HAGL to sell stake in agriculture subsidiary
By Thien Ngan December 30, 2020 | 09:30 am GMT+7
Agrico mainly grows passion fruit, banana, chili, and dragon fruit for domestic consumption and exports. Photo by VnExpress/Phuong Dong.
The Hoang Anh Gia Lai Group will sell a 4.28 percent stake in subsidiary HAGL Agrico to restructure its debts.
It registered to sell 47.5 million shares of the subsidiary between December 31, 2020 to January 29, 2021 via the put-through option, according to a filing made Monday with the Ho Chi Minh Stock Exchange (HoSE).
With the Agrico ticker HNG trading at VND14,200 (62 cents), the deal is expected to fetch VND675 billion ($29.29 million). It will reduce Hoang Anh Gia Lai Group’s ownership in the company from 40.83 percent to 36.55 percent.