Credit Suisse buys 13.64pct of Hoang Anh Gia Lai
Credit Suisse (Hong Kong) Limited announced it had purchased over 73.3 million shares of property developer Hoang Anh Gia Lai (HAG).
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| Photo howzit-hongkong.com |
The deal was for the purpose of hedging transactions it had entered into with its off-shore clients, the business said earlier this week.
The amount of shares/fund certificates held by Credit Suisse Hong Kong after the transaction is equal to 13.64 per cent of Hoang Anh Gia Lai's outstanding shares.
It made Credit Suisse the second-largest shareholder after Doan Nguyen Duc, the Vietnamese company's chairman.
Before the transaction, the investor held only 12 per cent of HAG shares.
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