HAG Chairman Doan Nguyen Duc Buys More Shares, Stake Rises to 25.7%

Overview

Doan Nguyen Duc (Bau Duc), Chairman of Hoang Anh Gia Lai (HAG), has registered to buy additional HAG shares, raising his ownership from 25.4% to 25.7%. The purchase, valued at approximately VND 60 billion, is the fifth such transaction this year. The company also reported strong 2025 earnings and plans to IPO subsidiaries to fund a large-scale coffee project.

Key Facts

• Chairman Doan Nguyen Duc will buy 2 million HAG shares, increasing his stake from 25.4% to 25.7%.
• The transaction period runs from June 29 to July 28, executed via order matching on HOSE.
• At the June 23 closing price of VND 15,000, the purchase is valued at about VND 60 billion.
• This is the fifth time since the start of 2026 that Bau Duc has registered or bought HAG shares.
• Related parties (13 individuals) hold a combined ~30.57% of HAG’s charter capital.
• HAG reported 2025 net profit of VND 2,243 billion, more than double the prior year.
• The company plans to develop 20,000 hectares of coffee with total investment of VND 14,000-15,000 billion, funded by retained earnings, subsidiary IPOs, and parent company capital raising.
• HAG targets 2026 net profit of VND 4,202 billion, up 87% YoY, which would be a record high.

What Happened

Doan Nguyen Duc, Chairman of Hoang Anh Gia Lai (HAG), has registered to purchase 2 million HAG shares between June 29 and July 28, 2026. If completed, his holdings will rise from 322 million to nearly 324 million shares, lifting his stake from 25.4% to 25.7%. Including related parties, total ownership will approach 31% of charter capital. The purchase will be executed via order matching on HOSE.

This is the fifth time since early 2026 that Bau Duc has increased his stake. He recently completed a purchase of 4 million shares from June 16-22. At the annual general meeting in April, he indicated he would continue buying HAG shares. The company is also preparing resources for a major coffee project covering 20,000 hectares, with total investment estimated at VND 14,000-15,000 billion. Funding sources include retained earnings, IPO of subsidiaries, and capital raising at the parent level.

Market Context

HAG shares closed at VND 15,000 on June 23, unchanged from the previous session, with volume of 2.3 million shares. The stock trades on HOSE. The agricultural sector has seen mixed performance, but HAG’s earnings momentum and insider buying signal confidence. The company’s 2025 net profit more than doubled to VND 2,243 billion, and Q1 2026 profit reached VND 1,172.6 billion, up 3x YoY, completing nearly 28% of the full-year target.

Strategic Significance

The chairman’s continued share accumulation aligns with HAG’s aggressive expansion into coffee, a high-value crop. The planned IPO of the Laos subsidiary, which manages the coffee project, could unlock value and provide capital without diluting parent company shareholders. If successful, the coffee project could transform HAG’s revenue mix and profitability, reducing reliance on traditional rubber and palm oil. The 2026 profit target of VND 4,202 billion, if achieved, would mark a historic high and validate the turnaround strategy.

What to Watch

• Completion of the share purchase by July 28 and any further insider buying.
• IPO timeline for the Laos subsidiary, expected in Q2 2026 if market conditions allow.
• Progress on the 20,000-hectare coffee project and any offtake agreements.
• HAG’s Q2 2026 earnings release to confirm earnings momentum.
• Any changes in foreign ownership limits or regulatory approvals for the coffee project.