Credit Suisse buys 13.64% 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).

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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