Novaland's grand plan

Novaland is seeking shareholder approval for a plan to issue shares to existing shareholders, through private placements and ESOP programs, with a total expected capital raising of nearly VND 20,000 billion.

Novaland is seeking shareholder approval for a plan to issue over 1.7 billion shares to restructure its debt. Photo: Lien Pham .

Novaland Investment Group Joint Stock Company (HoSE: NVL) has just announced proposals for shareholder consultation in writing regarding the adjustment and supplementation of some share issuance plans. The period for shareholder consultation extends until June 29th.

Accordingly, Novaland proposes offering a maximum of over 800 million shares to existing shareholders after completing the bonus share issuance. The exercise ratio is 3:1, meaning shareholders owning 3 shares are entitled to purchase 1 additional new share. The newly issued shares are not subject to transfer restrictions.

If the offering is completed, Novaland's charter capital is expected to increase from nearly VND 24,021 billion to nearly VND 32,028 billion. The offering price will not be lower than VND 10,000 per share, through which the company could raise a maximum of approximately VND 8,000 billion .

Novaland stated that it will prioritize using at least 50% of the raised capital to pay off the company's debts, financial obligations, and payables, as well as those of its subsidiaries, through loans or equity investments in subsidiaries. The remaining capital (if any) will be used to supplement working capital, cover operating expenses, and support investment activities and equity investments in other businesses.

In the event that the offering fails to raise the expected capital by the end of the prescribed distribution period, the Board of Directors, authorized by shareholders, will consider appropriate solutions such as extending the period or other necessary procedures as required by law and approved by the competent authority.

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In addition, Novaland also presented to shareholders a new private placement plan, replacing the previously approved plan.

According to the proposal, the company plans to issue a maximum of 800 million shares privately to no more than 20 professional securities investors. The issue price will not be lower than 75% of the average closing price of NVL shares in the 30 most recent trading sessions before the Board of Directors issues the resolution approving the issuance plan. All of these shares will be subject to a one-year transfer restriction. The issuance is expected to take place in 2026.

Similar to the offering to existing shareholders, the funds raised from the private placement will be primarily used to pay off the company's debts, financial obligations, and liabilities, as well as those of its subsidiaries. The remainder will be used to cover working capital, operating expenses, and investment activities.

In addition to the two large-scale fundraising plans mentioned above, Novaland also proposed adjustments and additions to several aspects related to the target of the offering, investor selection criteria, the plan for handling unsold shares, and the authorization of the Board of Directors to implement the employee stock ownership program (ESOP) in 2026.

According to the plan approved at the 2026 Annual General Meeting, Novaland plans to issue over 111.7 million ESOP shares at a minimum price of VND 10,000 per share, potentially raising over VND 1,117 billion . All shares issued under this program will be subject to a minimum one-year transfer restriction.

According to the plan, Novaland will prioritize issuing bonus shares first, then gradually implement offerings to existing shareholders, private placements, ESOPs, and other capital raising options (if any).

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Source: https://znews.vn/ke-hoach-lon-cua-novaland-post1661472.html