Novaland (Novaland Joint Stock Group, stock code: NVL) has announced changes to its board of directors. In a recent filing with the Vietnam Stock Exchange, Hanoi Stock Exchange (HNX), and Ho Chi Minh Stock Exchange (HoSE), Novaland disclosed the appointment of Ms. Pham Thi Hong Nhung as a member of its board of directors for a five-year term starting August 7, 2025. Prior to this appointment, Ms. Nhung did not hold any positions within the company.
Concurrently, Novaland announced the resignation of Mr. Doan Minh Truong from his position as a member of the board of directors, effective August 7, 2025.
Novaland’s Extraordinary General Meeting of Shareholders.
These personnel decisions are based on Resolution No. 18/2025-NQ.DHCD-NVLG dated August 7, 2025, of Novaland’s General Meeting of Shareholders.
In addition to the personnel changes, the shareholders also approved a proposal to issue nearly 320 million shares, representing approximately 16.4% of the total outstanding shares, in exchange for a total debt value of over VND 8,719 billion.
Of these, 168 million shares will be privately issued at a price of VND 15,746.67 per share to settle VND 2,645 billion in debts owed to three creditors: NovaGroup (VND 2,527 billion), Diamond Properties (VND 111.7 billion), and Ms. Hoang Thu Chau (VND 6.7 billion). The exchange price is determined based on the average closing price of NVL shares over the last 30 trading days from June 19 to July 30, 2025. The ratio of the number of shares issued to the total number of outstanding shares is 8.616%.
The issuance is expected to take place in the fourth quarter of 2025 or the first quarter of 2026, pending approval from the State Securities Commission (SSC).
Furthermore, NVL plans to issue 151.85 million shares at a price of VND 40,000 per share to settle the entire VND 6,074 billion principal debt of 13 bond codes issued from 2021 to 2022. This proposal is expected to be implemented in 2026, subject to SSC approval.
Another notable resolution passed at the General Meeting was the approval of a maximum borrowing limit of VND 5,000 billion. This loan is convertible into common shares of the company within five years from the disbursement date and is repayable at maturity.
The lender has the right to request the conversion of all or part of the principal amount of the loan into common shares of the company. The conversion period is after 12 months from the final disbursement date up to 30 days before the maturity date or early repayment of the loan. The conversion price is determined based on market principles, balancing the interests of all parties involved.
“Novaland Fails to Repay Over VND 2,500 Billion in Principal and Interest on Bonds in the First Half of 2025”
As of the end of the first half of 2025, Novaland has been unable to repay over VND 2,523.4 billion in principal and interest on six bond lots, citing difficulties in arranging funds.
The Real Estate Rush: Firms Flock to Convert Bonds to Stocks
“The issuance of additional shares will dilute existing shareholders’ interests in the short term, but it is a necessary step for real estate businesses to restructure, alleviate cash flow pressures, and enhance their financial safety margins. This move strikes a balance between the interests of bondholders and the company’s long-term viability.”
Extraordinary General Meeting of Novaland: Approving the Issuance of Over 320 Million Shares to Swap Debt, Priced at VND 15,746 and VND 40,000 per Share
“Following these two issuance options, the total ownership ratio of the major shareholder groups (NovaGroup and Diamond Properties) and Mr. Bui Thanh Nhon’s family is expected to reach 39.59%.”
Extraordinary General Meeting 2025: Novaland Approves Share Issuance to Swap Over $360 Million Debt
On August 7, 2025, the extraordinary General Meeting of Shareholders of Novaland Investment Corporation (Novaland, HOSE: NVL) took place at NovaWorld Phan Thiet. The meeting approved a plan to issue private shares to swap debt for equity and bond principal debt. The shareholders also approved a convertible loan agreement and elected additional members to the Board of Directors.
“SJ Group Successfully Issues Over 182 Million Shares as Dividend and Bonus Payout”
On July 31, 2025, SJ Group concluded its distribution of over 182.6 million shares as dividends to its 2,302 shareholders. This issuance of shares has increased the total number of outstanding shares to nearly 297.5 million.
