President of Hoang Anh Gia Lai Group Doan Nguyen Duc decided to spend VND240 billion to buy back HAGL bonds, while the owner of Yeah 1 lost VND2.2 trillion in 2019.
1/ Hoang Anh Gia Lai Agrico (HNG) has announced the results of the buy back of bonds before maturity from the National Citizen Bank (NCB). The total amount of money Duc spent on the deal was VND240 billion, and the transaction completion date was January 31, 2019.
Doan Nguyen Duc, president of Hoang Anh Gia Lai
|President of Hoang Anh Gia Lai Group Doan Nguyen Duc decided to spend VND240 billion to buy back HAGL bonds, while the owner of Yeah 1 lost VND2.2 trillion in 2019.|
The collateral is nearly 26.6 million HNG shares that Hoang Anh Gia Lai Joint Stock Company holds. Hoang Anh Gia Lai and HAGL Agrico are led by Mr. Doan Nguyen Duc (elected Duc) as chairman of the Board of Directors.
Quang was added to the list in March 2019 with assets worth $1.3 billion. However, he later lost his position on December 12.
As president of Masan Group, Quang only directly holds 15 Masan shares. His stock assets come from shares held through relevant legal entities and relatives.
Thaco’s president spent big money to rescue Hoang Anh Gia Lai, while Vingroup’s president transferred the retail division to Masan to gather strength on automobiles and technology.
Two dollar billionaires in the banking sector emerged in 2019, which also witnessed competition that led to big changes in the economy.