Mr. Duc said he plans to IPO the agricultural company in Laos in the second quarter of 2026, and committed to sharing 50% of profits in cash in the first three years.
At the conference on the afternoon of November 25, HAGL Chairman Doan Nguyen Duc said that the decision to IPO (initial public offering) of HAGL International Investment Joint Stock Company was made when operations were effective and financial restructuring was completed.
HAGL International Investment (formerly Hung Thang Loi) is an enterprise that manages a large agricultural land fund in Laos. Currently, bananas are the main cash flow generating product for the company, while durian and coffee are entering the growth phase.
This company targets a minimum profit growth of 30% per year after IPO, with charter capital of 1,685 billion VND, equity of 3,701 billion VND and total assets of more than 14,000 billion VND. Profit in 2027 is expected to reach VND 2,700 billion.
Mr. Duc said that the company owns a clean land fund, the garden has entered the exploitation cycle and the infrastructure is complete, creating attractive pricing potential. Although he does not accurately predict stock prices, he believes in the true value of assets and cash flow, and believes that the final valuation will be determined by the market.
Mr. Doan Nguyen Duc – Chairman of Hoang Anh Gia Lai answered shareholders in Ho Chi Minh City on the afternoon of November 25. Image: HAG
The IPO news appeared right at the time of storms and floods lasting more than a month causing damage in the Central and Central Highlands, causing many investors to question the ability of large-scale agricultural models to withstand natural disasters. Many people worry that HAGL’s bananas, durians and coffee will be affected by increasing extreme weather.
Mr. Duc said the business has built a risk protection system. The growing area in Vietnam is located on the western plateau of the Truong Son range, the high terrain helps limit flooding. In Laos, which is less directly affected by storms, the farm is located at an altitude of 1,200-1,500 m, combined with a water-saving irrigation system, maintaining production when drought lasts. Investor delegations surveyed after the recent floods also noted that HAGL’s operations did not suffer significant damage.
According to Mr. Duc, the biggest challenge in agriculture is not the weather but the output. If businesses do not control the market, all investments in seeds, technology and infrastructure may be ineffective. From many years of experience, the company has grown to a large scale so that customers can proactively come to them. They also put banana products on the auction floor in China, to make prices transparent and stabilize consumption. With silk, businesses benefit from commodity transactions in Shanghai. Bananas and durians maintain output thanks to large output and expanded cold storage.
However, he said that output is still low and the company’s direction has not expanded distribution. China is still their focus market.
At the event, HAGL also announced this year’s plan with revenue of nearly 7,700 billion VND and profit of nearly 2,800 billion VND, much higher than the target set at the beginning of the year. BIDV Securities Company assesses that Hoang Anh Gia Lai’s banana output is stable, while durian, pigs and silk will create momentum from 2026. Coffee products will contribute greatly to the business in the next 3-4 years.