AsemconnectVietnam - Viet Cat Fund Management Joint Stock Company has just reported the results of the private placement of 7.5 million shares to strategic shareholders.

On January 30, 2024, Viet Cat Fund issued all 7.5 million shares at 10,000 VND/share, raising VND75 billion. In particular, Tien Phong Commercial Joint Stock Bank has purchased all 7.5 million shares, increasing its ownership from 0% to 75% of charter capital at Viet Cat Fund and officially becoming the parent company of Viet Cat Fund.
Tien Phong Commercial Joint Stock Bank (TPBank) will be restricted from transferring within 1 year of shares just purchased in the issuance of Viet Cat Fund.
Thus, after the issuance, Viet Cat Fund's charter capital will increase from VND25 billion to VND100 billion.
According to research, Viet Cat Fund was established on January 25, 2008; Address at 11th floor, Doji Tower building, 5 Le Duan, Dien Bien ward, Ba Dinh district, Hanoi.
Regarding business activities, according to data from reporters of the Securities Investment Newspaper, in 2023, Viet Cat Fund recorded revenue of VND4.02 billion, down 35.2% compared to the same period, and the following profit Tax recorded a loss of VND1.47 billion compared to the same period profit of VND0.77 billion, a decrease of VND2.24 billion.
With losses in 2023, as of December 31, 2023, Viet Cat Fund's total accumulated profit is only VND0.38 billion.
In addition, also at the end of 2023, Viet Cat Fund's total assets increased by 5.8% compared to the beginning of the year, corresponding to an increase of VND1.44 billion, to VND26.3 billion. Of which, main assets were cash and cash equivalents recorded at VND12.13 billion, accounting for 46.2% of total assets; Short-term financial investments recorded VND10 billion, accounting for 38.1% of total assets; Short-term receivables recorded VND3.5 billion, accounting for 13.3% of total assets and other items.
Viet Cat Fund became better known to investors when at the 2022 Annual General Meeting of Shareholders of Hoang Anh Gia Lai Joint Stock Company (HAGL Company, HAG code - HOSE stock exchange) on April 8, 2022, Mr. Doan Nguyen Duc, Chairman of the Board of Directors of HAGL at that time, announced a plan to privately issue 161.9 million shares at a price of 10,500 VND/share, raising VND1,700 billion.
Mr. Duc shared: "We need money to invest in expansion, we do not need consulting. In particular, the partners participating in the private placement are expected to be a securities company and Viet Cat Fund Management Company.”
However, on April 17, 2023, HAGL Company suddenly approved that it could not complete the private offering of 161.9 million shares due to stock price movements on the stock market not consistent with the offering price, leading to investors being offered the sale rejecting the offer.
By November 23, 2023, HAGL Company announced information about the plan to privately offer 130 million shares at a price of 10,000 VND/share, raising VND1,300 billion, implementation time in 2023 or 2024, after being approved by the State Securities Commission. Of which, Viet Cat Fund Management Joint Stock Company plans to buy 60 million shares, increasing its ownership from 0% to 5.67% of charter capital (becoming a major shareholder); LPBank Securities Joint Stock Company plans to buy 50 million shares, increasing its ownership from 0% to 4.73% of charter capital; and Mr. Nguyen Duc Quan Tung plans to buy 20 million shares, increasing ownership from 0% to 1.89% of charter capital.
However, later, HAGL Company said that Viet Cat Fund Management Joint Stock Company would not participate in the private offering.
Explaining the publication of false information about Viet Cat Fund, HAGL Company said this was a mistake because it did not receive a refusal to register to buy from Viet Cat Fund, along with errors in the process of information exchange between the parties, so the content announced on November 22, 2023 was recorded incorrectly.
By November 24, 2023, the Company has canceled and updated the list of investors expected to be offered private shares and Viet Cat Fund is no longer on the list of investors.
N.Nga
Source: VITIC/Tinnhanhchungkhoan