Novaland shares are experiencing a surge.

Novaland's NVL shares unexpectedly plummeted and hit the floor limit on June 2nd, bringing the total decline over the past month to 38% and wiping out tens of trillions of dong in the company's market capitalization.

Novaland shares hit their lowest level in two months. Photo: NVL .

The Vietnamese stock market experienced a disappointing trading session on June 2nd as selling pressure increased across the board, pushing numerous stock groups into the red.

The total trading value across the market today reached only 21,000 billion VND . Although this is a 29% increase compared to yesterday, it remains a low level of liquidity compared to the previous boom period.

From the start of the trading session, the VN-Index struggled to maintain its positive momentum. Continuous selling pressure on many large-cap stocks caused the index to quickly reverse and decline. The recovery attempt during the session was short-lived as demand remained cautious, particularly in the banking and real estate sectors.

At the close of trading, the VN-Index fell 18.07 points (-1%) to 1,826.47 points. Meanwhile, the HNX-Index rose 9.61 points (+3.2%) to 314.79 points and the UPCoM-Index edged up 0.22 points (+0.2%) to 125.99 points.

Today's market was heavily skewed towards selling, with 446 stocks declining (including 12 hitting the floor price), 840 remaining unchanged, and only 269 rising (including 42 hitting the ceiling price).

The VN30 basket of stocks saw 26 decliners, only 3 gainers, and VIC remaining unchanged. As a result, the VN30-Index lost nearly 17 points, falling to 1,972 points.

The financial and banking sector became the biggest drag on the market today. A series of leading stocks weakened simultaneously, such as CTG (-2%), VCB (-1%), HDB (-3.3%), VPB (-1.9%), MBB (-1.8%), TCB (-1.4%), and TCX (-2.9%), putting pressure on the main index.

In addition, many key stocks outside the financial sector also faced significant downward pressure. VHM fell 0.8%, GAS lost 2.4%, while BSR dropped as much as 3.2%, contributing to the decline in the main indices.

Novaland shares have fallen 38% from their peak set in early May. Photo: TradingView.

The most notable "hot spot" of the session was the NVL stock of Novaland Investment Group Joint Stock Company (Novaland). This stock was heavily sold off right from the start of the session and closed at the floor price of 14,200 VND/share.

Notably, at the end of the trading session, NVL still had over 24.4 million shares offered for sale at the floor price, but there was almost no demand to absorb this supply.

Negative developments have caused Novaland's stock to continue its sharp decline since the beginning of May. Compared to its peak in nearly two years, set about a month ago, NVL's market value has now lost approximately 38%. Consequently, the market capitalization of this real estate company has also shrunk to around 31,700 billion VND .

Notably, the sell-off occurred immediately after Novaland announced its plan to issue bonus shares to increase its charter capital.

According to the latest announcement, the company will finalize the list of shareholders on June 11th to implement the plan to issue nearly 167.6 million bonus shares. The ratio is 40:3, meaning shareholders owning 40 shares will receive an additional 3 new shares.

The total value of the issuance, calculated at par value, reached nearly VND 1.676 billion . The capital used was sourced from the share capital surplus as reported in the audited separate financial statements for 2025.

After the issuance is completed, Novaland's charter capital is expected to increase from nearly 22,345 billion VND to approximately 24,021 billion VND .

In another development, Novaland is also conducting a consultation with holders of international convertible bonds with an interest rate of 5.25%, maturing in 2027.

According to the proposal submitted to bondholders, the company wishes to adjust certain terms of the bonds and request an exemption from some payment obligations that have been or may not be met on time in the future.

Source: https://znews.vn/co-phieu-novaland-co-bien-post1656313.html