Novaland wants to issue 151 million shares, convert 6,074 billion VND of debt

No Va Real Estate Investment Group Joint Stock Company ( Novaland , stock code: NVL) has just announced an additional document requesting shareholders' opinions on the plan to issue shares to convert outstanding bond principal.

Specifically, the bond codes that Novaland wants to handle are 13 bond codes issued from 2021 and 2023 with a total outstanding principal value of VND 6,074 billion.

According to the plan to be presented at the upcoming extraordinary general meeting of shareholders, Novaland plans to issue more than 151 million shares to convert the entire outstanding principal of these bonds, with an issuance price of VND40,000/share.

Accordingly, every 40,000 VND of outstanding bond principal will be eligible for conversion into 1 newly issued share. The above determination method and conversion rate are based on the book value of NVL shares at the end of 2024, as well as Novaland's data on the expected market value at the time of issuance after completing the procedure.

After shareholders approve this policy, Novaland will negotiate and negotiate a more detailed plan with bondholders to submit to the Board of Directors for approval according to its authority, and at the same time submit to the State Securities Commission for consideration and approval to implement the issuance plan, expected in 2026.

Shares issued to convert debt bonds are restricted from transfer within 1 year. If the issuance is successful, Novaland's charter capital will increase to more than VND21,019 billion.

In the market, NVL shares have recently attracted attention as they have continuously increased sharply. Currently, NVL shares are priced at 18,200 VND/share, doubling from the bottom set last April.

About Novaland, known as a large real estate group in the South with annual net profit of thousands of billions of VND. Since 2018, Novaland has developed steadily with net profit exceeding 3,000 billion VND.

In 2022, when the real estate market slowed down after the pandemic, Novaland fell into financial difficulties. At that time, NVL shares in the market were continuously sold off due to the pressure of bond debt, along with the pressure of stock liquidation.

In 2024, the company suffered a record loss of more than VND6,400 billion. The company also continuously sold capital in projects to recover cash flow. However, in the first half of last year, Novaland still had a net loss of more than VND600 billion.

Debt pressure remains high. As of June 30, 2025, Novaland's total debt was VND61,831 billion, exceeding equity (VND51,968 billion). Of which, debt from bond issuance accounted for VND30,292 billion, including VND17,211 billion in short-term debt and VND13,081 billion in long-term debt.

Source: https://dantri.com.vn/kinh-doanh/novaland-muon-phat-hanh-151-trieu-co-phieu-hoan-doi-6074-ty-dong-no-20250807092612540.htm