Matching orders of over 1,200 billion VND, Novaland shares reach highest level in nearly half a year

The corresponding capitalization increased by 10,000 billion after more than 3 months to nearly 30,400 billion VND.

The stock market fluctuated near the resistance of 1,120 points, many stocks still attracted strong money despite the pressure of profit-taking at high prices. Novaland stock (code NVL) was a typical example when it suddenly hit the ceiling with very active trading. The matched volume reached 77.6 million units, equivalent to a trading value of nearly 1,200 billion VND, the highest on the entire stock exchange.

Matching orders of more than 1,200 billion VND, Novaland shares reach the highest level in nearly half a year - 1

The figure of 77.6 million shares was also the third highest matched volume in NVL's listing history after only two sessions on November 22 and November 28 last year. At that time, this stock was at the end of an unprecedented sharp fall since its listing.

With the ceiling price increase, NVL climbed to VND15,600/share, the highest level in nearly half a year since mid-December last year. The corresponding market capitalization reached nearly VND30,400 billion, recording an increase of more than VND10,000 billion (+50%) compared to the beginning of March. However, this figure is only 1/6 of the peak that this real estate company has reached.

Matching orders of more than 1,200 billion VND, Novaland shares reach highest level in nearly half a year - 2 — NVL shares increased sharply in the context of large shareholders selling large volumes in addition to being continuously liquidated by securities companies.

Most recently, two organizations related to Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland, NovaGroup and Diamond Properties, sold a total of 18.9 million NVL shares out of the total 88 million units previously registered. The reason for selling only about 1/5 of the total registered shares was given by the two organizations due to changing the transaction time to match the company's debt restructuring plan.

Similarly, Mr. Nguyen Hieu Liem, Chairman of Nova Consumer, also had more than 16 million NVL shares sold by a securities company. The transaction was conducted by order matching method in the session of June 1. After the transaction, Mr. Liem's ownership ratio decreased to 1.154% of capital, equivalent to holding nearly 22.5 million NVL shares.

In 2023, Novaland's Board of Directors plans to submit to the General Meeting of Shareholders for approval a business plan with revenue of VND 9,531 billion and after-tax profit of VND 214 billion, down 14.5% and more than 90% respectively compared to 2022. This is the lowest profit level in the past 8 years, since the company was listed in 2016.

Notably, Novaland is planning to issue 1.95 billion shares to existing shareholders at a starting price of VND10,000/share. The proceeds from the new issuance of about VND19,500 billion will be used to restructure debt, pay salary expenses and invest in the group's projects. In addition, Novaland also plans to issue 975 million shares through private placement at a price not lower than VND10,000/share, expected to raise VND9,750 billion.

(Source: CAFEF)

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