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Novaland to issue nearly 1.4 billion shares

The Saigon Times

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HCMC – No Va Land Investment Group Corporation (Novaland), whose NVL shares are traded on the Hochiminh Stock Exchange, will issue more than 1.37 billion shares.

Novaland will offer 200 million shares to no more than five professional stock investors via private placement. Those shares will not be transferable for one year after the share sale is completed.

The real estate developer will issue 1.17 billion shares without transfer restrictions to existing shareholders at a ratio of 60% via call options. The share prices will be determined by the company’s board of directors but not lower than VND10,000 per share. Transactions are expected to be made this year.

Proceeds from the share sales will be used to pay debt, increase employee salaries, cover operational costs, and contribute capital to the company’s subsidiaries, among others.

Closing the trading session today, January 3, NVL inched up 0.3% over yesterday’s session to VND16,800, with more than 8.7 million shares transacted.

Regarding the stock market, the good performance of blue-chip stocks propelled the VN-Index to rise beyond the 1,140-point threshold, extending its rising streak to four consecutive sessions.

With gainers outnumbering decliners by 395 to 106, the VN-Index of the Hochiminh Stock Exchange added 12.45 points, or 1.1%, over the previous session, at 1,144.17 points. Among gainers, 14 stocks rose to their daily ceiling prices.

Nearly 720  million shares worth over VND14.7 trillion were traded on the southern bourse, down by over 14% in volume and 8% in value. Block deals contributed VND1.6 trillion to the overall value, with 62.36 million shares traded.

The VN30 group served as the key driver of the market, with 27 stocks advancing. Notably, GVR was the top performer, closing the session with a 3.1% gain.

SHB took the lead by liquidity with more than 30 million shares changing hands. Closing the trading session, SHB increased by 2.7% to VND11,250.

The HNX-Index of the Hanoi Stock Exchange added 1.65 points, or 0.72%, versus the previous session, at 231.64 points. The northern bourse saw 117 stocks gaining and 51 others dipping, and a trading volume of 57.9 million shares worth over VND1.05 trillion.

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