Hoang Anh Gia Lai (HAG) hit the floor price after news of selling hospital to pay debt

HAG sells hospital to pay debt, expected to be debt-free by 2025

During the investor meeting held on the afternoon of December 15, 2023, the board of directors of Hoang Anh Gia Lai Joint Stock Company (Code HAG) gave many noteworthy information. Including the sale of the hospital to pay off debt.

Specifically, the company plans to sell Hoang Anh Gia Lai Hospital (full name is University of Medicine and Pharmacy Hospital - Hoang Anh Gia Lai) located on Le Duan Street, Pleiku City, Gia Lai Province to get money to pay off debt. The hospital currently has 11 inpatient departments, 6 functional clinics and 20 specialized clinics.

Hoang Anh Gia Lai (HAG) plans to sell the entire hospital to pay off debt, stock "turns around" and falls to the floor, no buyers (Photo TL)

The sale of the hospital is one of the activities of liquidating assets to pay off debts of HAG. Previously, HAG also sold Hoang Anh Gia Lai Hotel located at No. 1 Phu Dong, Phu Dong Ward, Pleiku City, Gia Lai Province and collected about 180 billion VND. This amount was used to pay off debts.

According to Bau Duc shared in the conference, the current goal of Hoang Anh Gia Lai is to focus on debt settlement. In 2023 and 2024, the company will focus on paying off debts and strive to pay off all debts in 2025.

HAG stock "turned around" and hit the floor, "no buyers"

After the public offering, HAG code had extremely strong price increases, from the price range of only 9,000 VND/share in mid-November to the peak of 13,550 VND/share in the session on December 13, 2023.

However, after the investor meeting on December 15, 2023, HAG had consecutive sessions of price loss. The peak was in the trading session this morning, December 19, 2023, when HAG code suddenly dropped to the floor price of 12,400 VND/share. The "no buy side" situation occurred when no investors bought HAG shares in the trading session.

This is the 4th consecutive session of decline for HAG after reaching its highest peak in the past 15 months, ending the hot growth streak over the past 6 trading weeks.

Source: https://www.congluan.vn/sau-quyet-dinh-ban-benh-vien-de-tra-no-co-phieu-hag-giam-kich-san-khong-co-nguoi-mua-post277173.html