The transaction aims to rebalance the investment portfolio. If successful, Diamond Properties’ ownership in NVL will decrease from 7.679% to 7.582%, equivalent to over 169 million shares.
Previously, Diamond Properties was one of two creditors receiving shares in NVL‘s recent debt-to-equity swap. Specifically, on December 31, 2025, NVL issued nearly 164 million shares to convert a debt of over VND 2.577 trillion. Diamond Properties received approximately 7.1 million shares, corresponding to a debt conversion of nearly VND 112 billion. The shares issued are restricted from transfer for one year.
Year-end session: Novaland issues over 184 million shares for debt swap and prepares for a new round
In other developments, on January 23, 2026, NVL officially topped out Tower A1, the final tower in the complex of three towers at The Grand Manhattan high-end apartment and commercial service project. The project is located at the intersection of Co Giang and Co Bac streets, Cau Ong Lanh Ward, Ho Chi Minh City.
Novaland held the topping-out ceremony for Tower A1 of The Grand Manhattan project on January 23, 2026
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Concurrently with the topping-out of Tower A1, the other two towers, A2 and A3, have entered the final construction phase, focusing on completing electrical and mechanical infrastructure, floors, ceilings, walls, exterior glass installation, and interior/exterior finishing. Novaland Group aims to hand over the apartments to residents starting from Q3/2026.
– 5:07 PM, January 23, 2026
