Shares of Mr. Tran Ba ​​Duong's agricultural company suddenly hit the ceiling

(NLDO) - At the end of the trading session on the morning of January 2, HNG shares of HAGL International Agricultural Joint Stock Company, where billionaire Tran Ba ​​Duong is chairman, suddenly increased to the ceiling price.

Specifically, HNG shares of HAGL International Agriculture Joint Stock Company (HAGL Agrico, stock code: HNG), chaired by Mr. Tran Ba ​​Duong, increased by the ceiling price of nearly 15% to VND 7,000/share, the highest since the end of August 2022.

Notably, the buy surplus of this stock is more than 5 million units at the ceiling price of 7,000 VND/share, while no one is selling.

The increase in HNG shares is believed to come from the information that the company has just completed debt payment according to the commitment agreement between HAGL Agrico with BIDV Bank (BID) and Hoang Anh Gia Lai Joint Stock Company (HAGL, stock code: HAG) with Mr. Doan Nguyen Duc (Bau Duc) as Chairman of the Board of Directors.

Specifically, HAGL Agrico paid VND4,228 billion. Of which, the company directly paid BIDV a loan worth VND2,094 billion and paid VND2,134 billion to Hoang Anh Gia Lai related to the HAGLBOND16.26 bond issued in 2016.

HNG shares increased sharply after announcing information on debt repayment to Mr. Duc's company. Source: Fireant

HAGL Agrico announced that it has paid all debts according to the agreement and has no more debts with Mr. Duc's company.

After the payment, HAGL Agrico will receive many assets according to the roadmap. In the first phase, the company will receive land use rights and exploitation rights for 5,357 hectares of oil palm on a total area of ​​9,470 hectares, along with the office, oil palm factory and thermal power plant owned by HA Andong Meas.

In the second phase, the company plans to receive land use rights and exploit 9,231 hectares of rubber and 9,996 hectares of oil palm in Attapeu province. The third phase will include land use rights and exploit 4,733 hectares of rubber and 3,155 hectares of oil palm in Attapeu province of Hoang Anh Attapeu Company.

In the fourth phase, HAGL Agrico completed procedures with BIDV to receive back other assets, including land use rights and rubber exploitation rights on an area of ​​4,852 hectares owned by HA Quang Minh, 1,960 hectares owned by Heng Brother Company Limited, and 3,283 hectares owned by CRD Company Limited.

Regarding HNG shares, due to business losses, this stock has been forced to delist from HOSE and traded on UPCoM since September 18, 2024. To relist on HOSE, HAGL Agrico must have profits for 2 consecutive years and must complete listing registration procedures.

Also in the last days of 2024, Hoang Anh Gia Lai announced the payment of more than VND 1,000 billion of HAGLBOND16.26 bonds, of which BIDV is the bondholder. However, the company still has a debt of VND 766 billion unpaid due to the failure to liquidate non-profitable assets. It is expected that Mr. Duc's company will complete this debt in the second quarter of 2025.

In the market, Hoang Anh Gia Lai's HAG shares closed the morning session on January 2, 2025 at VND 12,350/share, up more than 2% compared to the reference price and 3% compared to the beginning of December 2024.

Source: https://nld.com.vn/co-phieu-cong-ty-nong-nghiep-cua-ong-tran-ba-duong-bat-ngo-tang-kich-tran-196250102121054725.htm