Vietnamese conglomerate Hoang Anh Gia Lai to sell hospital

Vietnamese conglomerate Hoang Anh Gia Lai has announced that it plans to sell 9.9 million shares, or a 99-percent stake, in its Hoang Anh Gia Lai - University Medical Center in Pleiku City, the capital of the Central Highlands province of Gia Lai, in order to pay out for bonds it issued in 2016. Doan Nguyen Duc Duc, chairman of the board, made the sale announcement to Hoang Anh Gia Lai’s stakeholders on December 15. Hoang Anh Gia Lai - University Medical Center was established in 2012 as a joint venture between Hoang Anh Gia Lai and the University Medical Center Ho Chi Minh City. In September this year, Hoang Anh Gia Lai sold its hotel, also in Pleiku City, for VND180 billion ($7.4 million) to pay its debts. In meetings with investors, Hoang Anh Gia Lai chairman Duc emphasized the firm's commitment to paying all of its debts by the end of 2025.