ANTD.VN - Hoang Anh Gia Lai of "boss" Duc will sell all 34% of capital of BAPI Hoang Anh Gia Lai Company - the distributor of banana-eating pigs.
Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) has just announced the board of directors' resolution on transferring all shares owned at BAPI Hoang Anh Gia Lai Joint Stock Company (BAPIHAGL).
Specifically, the number of shares Hoang Anh Gia Lai holds at BAPIHAGL is 2,750,000 shares, par value 10,000 VND/share.
After completing the procedures for transferring all shares, BAPIHAGL will no longer be an affiliated company of Hoang Anh Gia Lai.
According to research, BAPIHAGL was established in May 2022 with the main product distribution system being BAPI banana-fed pigs. Currently, the company has a system of more than 30 banana-fed pig sales points in Hanoi, Hung Yen, Da Nang, Dong Nai, Vung Tau, Ho Chi Minh City...
Initially, when it was first established, BAPI had a charter capital of VND50 billion, with Hoang Anh Gia Lai holding 55% of the contributed capital. However, after the capital increase issuance earlier this year, Hoang Anh Gia Lai only owned 44.5% of the capital with a voting ratio of 34%.
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Hoang Anh Gia Lai will sell all capital in the banana-eating pig chain BAPI |
Previously, speaking at the launch ceremony of the BAPI product - Hoang Anh Gia Lai Banana-eating Pigs in September 2022, Mr. Doan Nguyen Duc said that with the banana-eating pig product, the group entered a brighter new page. However, he had to sell his "child" after just over a year due to financial difficulties.
Previously, to pay off debt, recently, the company "boss" Duc has been rushing to sell assets. Recently, HAGL announced a resolution to transfer shares of the University of Medicine and Pharmacy Hospital Joint Stock Company - Hoang Anh Gia Lai to pay off the principal of 2016 bonds.
The number of transferred shares is 9.9 million shares, accounting for 99% of charter capital at Hoang Anh Gia Lai Hospital.
In September 2023, Mr. Duc also sold Hoang Anh Gia Lai hotel for 180 billion VND to restructure debt.
In many meetings with investors, Mr. Duc often mentioned the priority goal of paying off all debt by 2025.
By the end of September 2023, the consolidated financial report for the third quarter showed that Hoang Anh Gia Lai's total liabilities were VND 15,952 billion.
On December 12, Hoang Anh Gia Lai announced that Gia Lai Livestock Joint Stock Company - a subsidiary of Hoang Anh Gia Lai - had paid the full amount of VND750 billion to Eximbank to pay off the loan from 2014.
The total amount of interest this enterprise was exempted by the bank was VND 1,424 billion, including part of the interest on time, all overdue interest and late interest payment penalty.
It is expected that in 2023, Hoang Anh Gia Lai will record unusual income from selling off assets or the recent reduction in Eximbank's loan interest, helping to increase profits.
Previously, in the first 9 months of 2023, the Company recorded revenue of VND 5,034.21 billion, an increase of 45% over the same period and after-tax profit of VND 709.74 billion, a decrease of 20.5% over the same period.
Despite profitable business, as of September 30, 2023, Hoang Anh Gia Lai still recorded an accumulated loss of up to VND 2,640.6 billion, equal to 28.5% of charter capital.
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