Accordingly, shareholders of Nova Real Estate Investment Group - Novaland have approved the plan to issue individual shares to existing shareholders and employees (ESOP) in 2022 and 2023.

Regarding individual shares, NVL will offer a maximum of 200 million shares to no more than 5 professional investors. These shares will be restricted from trading for one year from the closing date of the offering. NVL plans to use the proceeds to contribute additional capital to its subsidiary to restructure debt and pay off due debts.

For shares for existing shareholders, NVL will issue a maximum of 1.17 billion shares (60% of the number of outstanding shares) with no trading restrictions. With the proceeds, NVL will prioritize debt restructuring and payment of payable debts, and salary payments to officers and employees.

The offering price for the two above issuances is expected to be no lower than VND10,000/share. The expected implementation time is in 2024.

If successful, the southern real estate giant is expected to earn no less than VND13,700 billion (about USD500 million) from the two issuances above.

In addition, NVL shareholders also approved the ESOP issuance plan in 2022 and 2023 with the aim of attracting talent and connecting with the interests of employees.

The subjects are members of the Board of Directors, employees and subsidiaries according to the list approved by the Board of Directors.

The number of ESOP shares expected to be issued is maximum 1.5% of outstanding shares, price not lower than VND 10,000/share.

The 2022 ESOP issuance is expected to be no later than the end of the second quarter of 2024, and the 2023 ESOP is likely to be issued by the end of 2024. These shares are also restricted from transfer for at least one year.

In 2023, NVL shares were sold off many times with millions of shares. For example, in early November 2023, BIDV Securities (BSC) sold off nearly 42 million NVL shares owned by NovaGroup and Diamond Properties to handle collateral for a series of bond codes.

At the end of the trading session on January 2, 2024, NVL shares were priced at VND 16,750/share.

Business News

The stock market has a number of other important events of listed companies.

* HAG: Hoang Anh Gia Lai Joint Stock Company announced that Gia Lai Livestock Joint Stock Company - a subsidiary of HAG (HAG holds 88.03%) - has separated part of its assets, rights and obligations to establish a new company.

* MGG: Duc Giang Corporation's preliminary estimate of 2023 business results is estimated at VND 2,439 billion and profit of VND 15 billion, down 13% and 50% respectively compared to the previous year and not completing the set plan.

* HQC: At the end of 2023, Hoang Quan Real Estate Trading and Services Consulting JSC has not yet offered individual shares approved on May 19, 2023, so it has been extended to 2024. Accordingly, from January 2 to March 11, investors will register to buy and pay for HQC shares.

* AVC: On January 12, A Vuong Hydropower JSC will pay the 4th interim dividend of 2023 at a rate of 47.89% in cash, equivalent to 4,789 VND per share. The expected dividend payment date is May 15.

* HVN: In the recently released consolidated audited financial statements for the 2023 half-year, Vietnam Airlines recorded revenue that did not change much compared to before the audit. Meanwhile, net loss increased from VND 1,465 billion to VND 1,519 billion.

* HAH: Maritime Technical Supply and Services JSC, an organization related to a member of the Board of Directors of Hai An Transport and Stevedoring JSC, registered to sell all 1.5 million HAH shares it is holding, equivalent to 1.42% of capital from January 3 to February 2.

* EVS: Fusion Suites Saigon Hotel JSC, the largest shareholder of Everest Securities JSC, has sold all 32 million EVS shares it holds, equivalent to 19.42% of capital. The transaction was conducted from December 6-26, 2023.

* BSH: Saigon - Hanoi Beer Joint Stock Company announced the closing of the list of shareholders to receive the first interim dividend payment of 2023 at a rate of 10% in cash. Accordingly, the parent company, Saigon Beer - Alcohol - Beverage Corporation (Sabeco), will receive more than 9 billion VND from this payment.

* BVH: From December 28, 2023, Bao Viet Group officially spent more than 708 billion VND to pay dividends to shareholders with a right exercise rate of 9.54%.

VN-Index

At the end of the first trading session of the year, January 2, VN-Index increased by 1.79 points (+0.16%) to 1,131.72 points, HNX-Index decreased by 1.05 points (-0.45%) to 229.99 points, UpCOM-Index increased by 0.54 points (+0.62%), to 87.58 points.

BIDV Securities Company (BSC) commented that in the short term, the market may fluctuate at the 1,130 point threshold; however, the market also showed good bottom-fishing demand in this area in the session of January 2.

According to Vietcombank Securities Company (VCBS), investors can take advantage of the correction sessions to continue their short-term surfing strategy for stocks that have adjusted to the support zone. On the other hand, the fluctuations in the session are also an opportunity to gradually buy stocks for the medium- and long-term investment portfolio that have shown signs of accumulation to maintain the nearest support zone.

KB Securities Vietnam (KBSV) believes that the VN-Index will likely continue to face strong fluctuations when approaching the resistance zone of 1,150 (+/-15) points. Investors are advised to temporarily stay on the sidelines and only open buy orders again when the index reaches 1,085 (+/-15) points.

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