HCMC – Property developer No Va Land Investment Group Corporation (Novaland) is planning to seek shareholder approval for a debt-to-equity swap through a new share issue, reported the local media.
The number of shares to be issued has not yet been determined. The move aims to compensate certain shareholders who sold collateral assets to help Novaland repay loans and bonds. These include major shareholders NovaGroup and Diamond Properties.
During the sharp decline in its NVL shares from 2022 to 2024, the group of shareholders related to Novaland Chairman Bui Thanh Nhon lent shares to the company for sale in order to raise funds for debt settlement. This move reduced their collective ownership from 60.8% in June 2022 to 38.7% as of December 2024.
Recently, five shareholders associated with Chairman Nhon, including his wife, Cao Thi Ngoc Suong; his two children, Bui Cao Nhat Quan and Bui Cao Ngoc Quynh; and the two affiliated firms NovaGroup and Diamond Properties—registered to sell nearly 19 million NVL shares. The stated purpose of the sale is to rebalance investment portfolios, support debt restructuring, and address personal financial needs.
The transactions are scheduled to take place from May 16 to June 13, 2025. If completed, the group’s total stake in Novaland would drop to 37.4%.
Closing the trading session today, May 19, NVL edged down 0.82% to VND12,050, with over 19.8 million shares changing hands.
Vietnam’s benchmark index closed down 0.39% on Monday despite a sharp gain in Vingroup-related stocks, as losses in bank and technology stocks dragged on the broader market.
The VN-Index dropped 5.1 points to end at 1,296.29 points on the Hochiminh Stock Exchange, with 216 decliners and 110 gainers.
Trading volume reached more than 905.7 million shares, down 1.7% from the previous session, while value rose 3.1% to VND20.76 trillion. Block deals accounted for over 77.2 million shares worth VND2.61 trillion.
VIC surged to its ceiling price of VND85,600 per share, the highest level since late 2020, contributing over 5.4 points to the main index. More than 9.15 million shares were matched, with over 2.2 million shares remaining on the ceiling-price buy surpluses. Foreign investors net bought over two million VIC shares.
Vingroup’s other stocks also rose, with VHM and VRE each gaining over 1%. VHM traded 5.27 million shares and VRE over 10 million.
Only a few bank stocks in the VN30 basket ended higher, including VPB, CTG, HDB, and TCB, with gains of around 0.5%.
LPB dropped the steepest among bluechips, down 3.8%, followed by FPT, down 2.3%, and VJC, down 2.2%.
Newly listed VPL was the biggest drag on the index, falling 2.8% to VND98,200 and took away more than 1.1 points from the VN-Index.
Among small- and mid-cap stocks, infrastructure developer CII hit its ceiling price of VND14,200. The stock ranked fourth in market liquidity with over 26.7 million shares traded. Foreign investors net bought nearly 3.3 million CII shares.
Bank stocks VPB and SHB were the most actively traded stocks, with 64.65 million and 59.67 million shares changing hands, respectively.
Securities stocks fell sharply. VIX lost 1.9% to VND12,800 with 43.2 million shares traded, the highest in the sector. SSI dropped 1.5% to VND23,350 on volume of 19.74 million shares.
On the Hanoi Stock Exchange, the HNX-Index dipped 1.45 points, or 0.66%, to 217.24 points, with 93 losers and 60 winners. The northern bourse saw 62.2 million shares worth VND946.6 billion changing hands.
