The State Securities Commission has issued Decision No. 178/QĐ-XPHC, fining Hoang Anh Gia Lai Joint Stock Company (HAG) 92.5 million VND for failing to disclose mandatory information. Specifically, HAG neglected to announce reports on the use of funds from bond issuance for the years 2023, 2024, and the 2024 semi-annual report. Currently, HAG is seeking shareholder opinions on issuing 210 million HAG shares at 12,000 VND per share to convert 2.52 trillion VND of bond debt. This issuance price is lower than the current stock price of 15,000 VND per share, and the shares will be subject to transfer restrictions for one year. The list of creditors includes one organization, Hướng Việt Investment Co., Ltd., and five individuals, with Hướng Việt expected to hold 4.74% of HAG’s equity post-issuance.
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