NVL increased by 44%, Novaland wants to change the plan to issue nearly 3 billion shares

NVL increased by 44%, Novaland wants to change the plan to issue nearly 3 billion shares
NVL increased by 44%, Novaland wants to change the plan to issue nearly 3 billion shares

According to the plan approved in March 2023, Novaland (NVL) plans to increase its charter capital to more than 49,000 billion VND, surpassing two real estate giants Vingroup (VIC) or Vinhomes (VHM).

No Va – Novaland Real Estate Investment Group Joint Stock Company (HOSE: NVL) has just announced that on November 30, it will finalize the list of shareholders to get opinions on adjusting the plan to issue private shares and shares. for existing shareholders, the employee stock issuance plan (ESOP) was approved previously. However, the specific change plan has not been announced by Novaland.

It is known that in March, NVL announced the results of vote counting to get shareholders’ opinions in writing, thereby approving all proposals with a high consensus rate. Notably, NVL shareholders approved the issuance of more than 975 million individual shares at a price not lower than 10,000 VND/share to strategic investors and professional securities investors. The amount of money earned if 100% of the shares are successfully offered is not less than 9,750 billion VND.

The purpose of issuance is to invest additional capital in subsidiaries to restructure debt and pay due debts; implementing projects in which the subsidiary is the investor; Payment of taxes and payables to the State of subsidiaries and supplementation of working capital.

At the same time, Novaland will offer an additional 1.95 billion shares to existing shareholders, corresponding to an implementation ratio of 1:1 (shareholder owning 1 share will have the right to buy 1 new share), price selling at no less than 10,000 VND/share. Novaland can earn 19,500 billion VND if it successfully offers 100% of the plan. The company plans to use the proceeds to restructure debt and pay due debts, pay salary costs for employees; Payment of general operating costs and implementation of projects invested by NVL. The implementation time for the above two options is in 2023 or according to the decision of the Board of Directors after being granted a certificate of registration to offer additional shares to the public by the State Securities Commission.

In addition, Novaland also plans to issue shares under the 2023 employee option program (ESOP), with a maximum amount of 1.5% of the Company’s outstanding shares at the time of issuance at a price not less than 10,000 VND/share. Offering subjects include members of the Board of Directors and employees according to the list approved by the Board of Directors. Implementation time is until the end of 2024 or another deadline as decided by the Board of Directors.

The purpose is to attract talent and increase the alignment of interests of Board Members and employees with Novaland. After the issuance, Novaland’s charter capital will increase by more than 29,540 billion VND to more than 49,000 billion VND and surpass Vingroup (VIC) or Vinhomes (VHM) to become the real estate enterprise with the largest charter capital in the world. Vietnam stock exchange.

>> Vinhomes (VHM) wants to inject an additional VND 3,600 billion into the “one week old” real estate company

Closing the session on November 20, NVL increased 0.62% to 16,200 VND/share, equivalent to a 44% increase in market price compared to the time NVL shareholders approved the above charter capital increase plan.

>> Perspective on using real estate to leverage Novaland’s (NVL) bond debt: Good or bad?

The article is in Vietnamese

Tags: NVL increased Novaland change plan issue billion shares


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