HCMC – No Va Land Investment Group Corporation (Novaland, HOSE: NVL) has approved a plan to raise up to VND2.5 trillion through a loan convertible into shares.
The loan will have a tenor of three years from the disbursement date. Novaland may repay the loan early, in one or multiple tranches, but early repayment will be capped at 50% of the outstanding balance after 12 months from the final disbursement.
The lender has the right to partially or wholly convert the loan principal into common shares of Novaland. The loan will be unsecured.
Conversion is expected to take place in the 18th, 24th or 30th month from the final disbursement date. The conversion price will be set at 115% of NVL’s closing share price five days before the conversion date. The price may be adjusted under certain market-standard events, subject to agreement with the lender.
Earlier this month, Novaland reduced its capital contribution in its subsidiary Nova Phuc Nguyen Real Estate Investment and Development Company. The contribution fell to VND490 billion from nearly VND790 billion, while the ownership ratio remained at 99.97%.
As of September 30, Novaland’s total liabilities stood at nearly VND189 billion, little changed from the start of the year. Outstanding borrowings rose 4% to nearly VND64.3 trillion, driven by higher bank loans and third-party borrowings.
Long-term payables related to project development cooperation fell 40% to VND24.2 trillion.
Closing the trading session today, December 15, NVL edged down 0.37% to VND13,300, with nearly 6.7 million shares changing hands.
Vietnam’s benchmark VN-Index moved sideways on Monday as trading activity weakened, with losses outpacing gains on the Hochiminh Stock Exchange.
The VN-Index closed down 0.88 point, or 0.05%, at 1,646.01. The market recorded 126 gainers and 188 decliners.
Total trading volume reached 684.9 million shares worth VND18.74 trillion, down more than 24% in both volume and value from the previous session. Block deals accounted for nearly 86 million shares valued at VND2.9 trillion.
The VN30-Index rose by less than three points, settling at 1,869.84 points. Fifteen stocks gained and nine fell in the VN30 basket.
VRE led the blue-chip group, rising 5.3% to VND28,900 per share. VPB gained 3.6%, while dairy firm VNM rose 3%.
LPB posted the biggest decline among VN30 stocks, down 3.2%. Vingroup-related stocks weakened, with VIC down 0.8% and VHM down 1.7%. VPL marked another session at the floor price, closing at VND78,800 per share.
Energy stocks outperformed the broader market. BSR surged to the ceiling price of VND14,400, with more than 11.5 million shares traded. Foreign investors were net buyers of nearly six million shares. Other energy stocks also advanced, including PVD, PVS and PVT.
Securities firms also gained. VND, VCI, HCM and SSI rose more than 1%. TCX climbed 6.6%. VIX was the most actively traded stock among brokerage firms, with 35.4 million shares changing hands, ending flat at VND21,800. Newly listed VPX fell nearly 4%.
Lender SHB led the market by volume, with more than 49 million shares traded, and closed down 0.6%.
On the Hanoi Stock Exchange, the HNX-Index shed 0.72 point, or 0.29%, to 249.37, with 59 winners and 73 losers. Trading volume reached 64.6 million shares valued at VND1.28 trillion.
