HAGL Agrico registers the listing of 708 million shares on HOSE

On June 23, Ho Chi Minh City Stock Exchange (HOSE) announced receiving registration record for stock listing of HAGL Agrico.

HAGL Agrico - formerly HAGL Rubber - the member company of Hoang Anh Gia Lai (HAG) in charge of investment in the agricultural sector with the main products such as sugar, rubber, oil palm, corn, cows-breeding.

HAGL Agrico's current charter capital is 7,081 billion VND, registering to list over 708 million shares. Consulting organizations for listing is Saigon Securities Company (SSI).

As of March 31/2015, Hoang Anh Gia Lai owns 94.39% of stocks in HAGL Agrico. Some financial institutions, such as SSI, Agriseco also have large investments in this enterprise.

In 2015, the focus of HAGL Agrico will be cows-breeding with total expected revenue of 2,475 billion VND and gross profit of 920 billion VND, corresponding to 46% and 42% of the consolidated plan of HAGL.

Adding sugarcane and rubber, HAGL will account for about 64% of the planned revenue and profit in 2015.

Sharing in the annual General Meeting of Shareholders in 2015, the leaders of company said that the listing of HAGL Agrico is to better reflect the true value of HAGL Agrico. Previous investments kept business account under investment price have not fully reflected the value of the property increasing from time to time.

Truong An

According to Young Intellectuals

Source: s.cafef.vn