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Friday, July 19, 2024

Novaland extends maturity of bonds worth VND2.3 trillion

The Saigon Times

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HCMC – No Va Land Investment Group Corporation (NVL) has extended the maturity of bond lots worth a combined VND2.3 trillion to a later date.

The due date of the NVLB2123012 bond lot, which has a total value of VND1.3 trillion, is lengthened by two years to July 20, 2025. Its coupon has been increased by two percentage points, now fixed at an annual rate of 11.5%.

The other bond lot (code: NVLH2123010) is extended by 21 months, with the new due date set at March 17, 2025. Its coupon is adjusted to 11.5% annually, up one percentage point. Novaland has also put more real estate and the rights to assets generated from property projects in HCMC owned by the firm or third parties as collateral.

At a recent annual meeting, a leader of the developer said that Novaland had reduced debt worth VND9 trillion from the fourth quarter of last year to the end of the first quarter of this year, with over 90% of creditors agreeing to swap debt for shares.

Closing the trading session today, June 27, NVL inched up 0.7% to VND15,000 per share and took the lead by liquidity on the southern bourse with 31 million shares matched.

The VN-Index of the Hochiminh Stock Exchange added 2.3 points, up 0.2% day-on-day, to 1,134.33 points, with 221 advancers and 194 decliners.

Trade on the exchange contracted 31% in volume and 28% in value from the previous session, with nearly 722 million shares worth nearly VND14.7 trillion changing hands. Nearly 80.4 million shares were transacted in block deals contributing around VND2 trillion to the overall value.

Most bank stocks ended in the red today, with eight out of 10 bank stocks with the highest trading volume, ranging from three to 14 million shares, being losers.

Among them, VPB posted the highest matching volume with 14.4 million shares transacted, and inched down 0.7% at the close.

SHB and MBB lost 0.4% and 0.5% respectively, while STB finished at its reference price of VND29,600 per share.

While bank stocks dragged the index, real estate, construction and material tickers were the main driver on the southern market.

KBC, VHM, VRE, HHV and HBC rose between 0.72% and 5.23%, with nearly one million to 12.6 million shares traded.

Steelmaker HPG contributed nearly 0.9 positive points to the benchmark VN-Index with a gain of 2.5% and a matching volume of 12.7 million shares, while VHM and VRE contributed 0.4 positive points each.

Brokerages SSI, VND and HCM helped the main index rise further. SSI went up 3.1% with nearly 20.4 million shares traded, representing 0.3 positive points. HCM and VND edged up 1.05% and 1.6%, with a trading volume of 4.2 million and 16.7 million shares, respectively.

On the southern bourse, the HNX-Index inched down 0.19% day-on-day, or a fractional 0.08%, to 230.85 points, with 105 winners and 83 losers.

There were around 75.6 million shares valued at over VND1.3 trillion traded on the Hanoi Stock Exchange, plunging 34% in volume and 29% in value from the session earlier.

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