HCMC – No Va Land Investment Group Corporation (HOSE: NVL) has missed a significant bond repayment, according to a disclosure from the Hanoi Stock Exchange (HNX) on March 24.
The property developer was due to pay nearly VND162.2 billion in principal and interest on March 15 for bond lot NVLH2224006. However, it settled only VND14.7 billion in interest on time and an additional VND1.5 billion in overdue interest, leaving more than VND145.9 billion unpaid as of the due date.
The NVLH2224006 bond lot was issued on March 15, 2022, with a total value of VND1.5 trillion and a two-year term, scheduled to fall due on March 15, 2024. Each bond has a face value of VND100,000, and the issuance was completed on June 13, 2022.
This is not the first time that Novaland has delayed payments. On March 17, the firm also defaulted on principal and interest payments totaling nearly VND1.2 trillion for two other bond lots, NVLH2123010 and NVLH2123013, citing liquidity constraints.
In a related development, NovaGroup – a major shareholder in Novaland – has registered to sell five million NVL shares from March 27 to April 4 via both order-matching and block deal transactions.
Upon completion, NovaGroup’s stake in Novaland would fall to around 338.79 million shares, or 17.373% of charter capital.
Closing the trading session today, March 25, NVL inched up by 0.49% day-on-day to VND10,350, with more than 6.6 million shares changing hands.
On the southern bourse, the VN-Index of the Hochiminh Stock Exchange added 1.6 points, or 0.12% against the previous session, at 1,331.92 points, with 270 winners and 191 losers.
Over 1.01 billion shares worth VND22.4 trillion were transacted, up by 10% in volume and 14% in value compared to yesterday’s session. Block deal transactions contributed around VND5 trillion to the overall value.
Vingroup stocks were in the spotlight, led by VRE, which edged up by 3.4% to VND19,800 per share with over 30.9 million shares changing hands — its most active session in more than a year. Meanwhile, VIC and VHM ended the session with gains of a slight 0.4% each.
Another notable stock was TPB, which rebounded after five consecutive losing sessions, closing up 2.1% at VND14,750, with nearly 18.4 million shares traded.
The HNX-Index saw 89 stocks advance and 73 others decline, with its index falling by 1.43 points, or 0.58% day-on-day, to 244.56 points. The total trading volume exceeded 53 million shares, valued at VND892 billion.
