US group invests US$80 million in Vietnamese firm

The US Global Emerging Markets (GEM) signed a pledge to spend VND1.7 trillion (US$79.96 million) on purchasing shares of Hoang Anh Gia Lai Company (HAG) in Ho Chi Minh City on November 6.
Under the pledge, GEM will purchase 10 percent of HAG stock from the company shareholders and investors. The deal is expected to complete in three months, when GEM will be able to attend in the company’s board of directors.
The investment group will also assist HAG to list in the US stock exchanges.
GEM representative Martin Doan said that the deal was promoted two months ago. After conducting surveys on business activities of HAG in Vietnam, Laos and Cambodia, they paid special heed to the company’s agricultural produce field.
The group expects to invest US$200 million in Vietnamese market. Of these, the deal in HAG stocks occupied most amount of capital.

By Luong Thien – Translated by Hai Mien

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