VN Dealbook: HAGL and Hoa An buy back their shares

Visual from the HAGL Group website

By Nguyen Thi Bich Ngoc

June 5, 2015

Companies in Vietnam, including property developer Hoang Anh Gia Lai (HAGL) and mining firm Hoa An JSC, have announced plans to buy back their shares, while HAGL chairman Doan Nguyen Duc upped his stake in the company to 44.03 per cent.

HAGL chairman increases stake, company to buy back shares

Doan Nguyen Duc, chairman of real estate and furniture business Hoang Anh Gia Lai Group (HAGL), has finished the purchase of five million shares of this own company, increasing his holding to more than 44 per cent.

Duc had earlier registered to buy these shares, stating the purpose as “long-term investment”.

HAGL itself has also filed to repurchase 10 million treasury stocks from June 10 to July 9. The repurchasing price will range from VND16,000 ($0.74) to VND22,000, while the company’s stock was traded at VND18,000 on Friday.

HAGL has invested in Myanmar with the 550 million HAGL Myanmar Centre project. The latest development of the project has seen HAGL terminate partnership with Singapore-based lifestyle real estate and investment company Rowsley Ltd, and is talking to the Hong Kong based investors. It has also signed a hotel management contract with Spanish hotel chain Melia.

The Vietnamese group also implements investments in real estate, forestry and mining in Laos, Cambodia and Thailand.

Also read: Spanish hotel chain Melia to manage HAGL’s hotel in Myanmar

Hoa An JSC to buy back 750,000 shares

Vietnam’s mining company Hoa An JSC will buy back 750,000 of its shares, at the highest price of VND18,000. That amount of shares represents 4.96 per cent of the company.

Hoa An’s stock price closed Friday’s session at VND17,700, up 0.57 per cent.

The company’s shareholders have approved a plan that includes the company registering a VND201.2 billion in revenue and VND27.3 billion in profit after tax for this fiscal; Up by 17.6 per cent and 80 per cent respectively, as compared to the figures of last year. Dividends are also expected to be paid at 15 per cent, instead of eight per cent last year.

Hoa An attracted investment from two overseas funds, Templeton Frontier Markets Fund and PXP Vietnam Fund Ltd.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW