Nam Bay Bay Investment Corporation (stock code: NBB, HoSE) has announced the documents for its first extraordinary shareholders’ meeting in 2025, scheduled for the morning of October 7th at Thang Loi Guest House (Xuan Hoa Ward, Ho Chi Minh City).
Firstly, Nam Bay Bay seeks shareholder approval to allow CII Trading and Investment LLC (CII Invest, a subsidiary of CII) to purchase NBB shares without conducting a public tender offer.
Accordingly, shareholder Nguyen Thi Kim Thao will transfer 2 million NBB shares, equivalent to 2% of the charter capital, to CII Invest. After the transaction, Ms. Thao’s ownership in NBB will decrease to over 1.05 million shares (1.05% of the capital).
Conversely, CII Invest will increase its ownership in Nam Bay Bay from 48.5 million shares (48.47%) to over 50.5 million shares (50.47%).
CII Invest is a subsidiary of Ho Chi Minh City Infrastructure Investment Joint Stock Company (stock code: CII). Currently, CII also holds nearly 26.5 million NBB shares (26.43%). Post-transaction, the CII group will own 76.9% of Nam Bay Bay’s capital.
The second agenda item is the approval of two investment projects. The first is the NBB II high-rise apartment complex in Tan Nhut Commune, Ho Chi Minh City (formerly Tan Kien Commune, Binh Chanh District). The total investment is approximately VND 4,678 billion, with completion expected by September 2029.
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Previously, Nam Bay Bay received approval from the Ho Chi Minh City People’s Committee for the investment policy and investor selection for the NBB II high-rise apartment project under Decision No. 3108/QD-UBND dated June 21, 2025.
The second project is the NBB Garden III residential area in Phu Dinh Ward, Ho Chi Minh City (formerly Ward 16, District 8). The total investment is approximately VND 5,845 billion, with completion expected by December 2028.
The NBB Garden III residential project was approved for the adjusted detailed urban planning design at a scale of 1/500 under Decision No. 4041/QD-UBND issued by the former District 8 People’s Committee on June 12, 2025.
The total investment for both projects exceeds VND 10,500 billion.
Regarding personnel, the Nam Bay Bay Board of Directors proposes the removal of Ms. Le Thi Kieu Diem from the Inspectorate Board for the 2025-2030 term due to personal reasons.
The meeting will elect a replacement for this position. The list of candidates has not yet been announced.
In terms of business performance, in the first six months of 2025, Nam Bay Bay generated over VND 23 billion in revenue, a 45% decrease compared to the same period last year.
A highlight was the financial revenue of VND 186 billion, up 34%. This primarily includes interest from investment partnerships, capital support, and deposits (over VND 138 billion); and income from transferring project participation rights (VND 48 billion).
However, due to high interest expenses of over VND 130 billion, Nam Bay Bay reported a post-tax profit of only VND 102 million in the first six months of 2025, lower than the VND 235 million profit in the same period last year.
