HCMC – No Va Land Investment Group Corporation (Novaland) today, January 4, bought back 15 bond lots issued in 2020 with a combined value of VND5.11 trillion.
This follows an earlier buyback on January 6, when the firm bought back five similar bond lots worth a total of VND1.55 trillion.
With these transactions, Novaland has repurchased 20 bond packages valued at VND6.66 trillion. The company said it is securing funds to repurchase the remaining bond package soon.
The property developer issued 21 bond lots in 2020 with a 60-month tenor. Though they have been extended, some of the bonds are overdue on coupon payments. These bonds will fall due between June and August this year.
On December 27, 2024, Novaland approved a plan to buy back all 21 bond lots, with a nominal value of up to VND7 trillion, as part of its debt restructuring efforts.
The company has reached agreement with bondholders to liquidate secured assets and use the proceeds to settle debts. The firm said that it had found buyers for the assets and began transactions in January.
After more than two years of restructuring, Novaland has made significant progress. As of December 31, 2024, the company had reduced or secured restructuring plans for nearly VND29.7 trillion in outstanding debt compared to December 31, 2022.
Novaland has also secured additional credit from major banks, including MBBank, VPBank, TPBank, and MSB, with a total credit limit of VND18.2 trillion. These funds are being disbursed according to schedule to ensure capital for key projects.
The company has also ramped up home deliveries to clients. In 2024, Novaland delivered 1,422 units across seven projects, including Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, Sunrise Riverside, Lakeview City, Palm City, and Saigon Royal. Home deliveries rocketed by 153% compared to 2023, nearly matching pre-restructuring levels in 2022.
Closing the trading session today, its NVL shares jumped by 5.51% over the previous session to VND9,390 each, with a trading volume of more than 7.4 million shares.
The Hochiminh Stock Exchange closed on a positive note, with 361 stocks advancing and 106 others declining. The VN-Index rose by 11.65 points, or 0.93%, ending at 1,264.68 points.
Trading volume surged to over 660.3 million shares with a total value of VND15.3 trillion. This marks a 21% increase in volume and a 10% rise in value compared to the previous session. Block deals contributed 75.8 million shares worth nearly VND2.3 trillion.
Bank stocks led the gains, with CTG rising by 3.6% to VND39,350 on volume of 14.5 million shares. Other lenders, including VIB, VPB, TCB, MBB, STB, and TPB, advanced between 1.3% and 2.5%.
Blue-chip stocks came under limited selling pressure, with VNM, VJC, and VHM declining marginally, losing between 0.5% and 0.6%.
Securities stocks saw strong demand. VIX and VND led in terms of trading volume, with VIX rising by 3.2% to VND10,100 and VND hitting its daily ceiling price of VND12,400. VIX was the most actively traded stock on the southern bourse with 24 million shares changing hands, while VND secured the second place on volume of around 19.4 million shares.
Other notable gainers included APG, which also hit its upper limit at VND7,460, and ORS, which rose by 4.4% to VND14,400.
On the Hanoi Stock Exchange, the strong performance of large-cap and securities stocks helped the HNX-Index gain 3.12 points, or 1.4%, to 226.61 points, with 114 winners and 52 losers.
Trading volume on the northern market reached 60.1 million shares valued at VND918.8 billion.
