The Board of Directors of No Va Real Estate Investment Group Joint Stock Company (Novaland) has just passed a resolution approving the plan to buy back bonds before maturity, with the total volume of bonds expected to be bought back calculated at par value of VND7,000 billion.

Novaland's plan is expected to include 21 bond lots, issued in the period from June to August 2020, with a term of 5 years.

The expected time to buy back the above 21 bonds is from December 27, 2024 to January 30, 2025, according to the agreement with the bondholders. The buyback price is equal to 100% of the face value plus interest accrued up to the date of purchase.

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An apartment building in Thu Duc City, Ho Chi Minh City developed by Novaland. Photo: Anh Phuong

In another development, Novaland's Board of Directors has just approved a plan to reduce capital contribution at Novaland Dat Tam Real Estate Investment Company Limited (Novaland Dat Tam), headquartered in District 3, Ho Chi Minh City.

Currently, Novaland owns 51% of the charter capital (equivalent to 51 billion VND) at Novaland Dat Tam. After the capital reduction, the charter capital ownership ratio at this subsidiary remains unchanged but the value is only 51 million VND.

Regarding stock prices, at the close of trading on December 27, Novaland's NVL shares were at VND10,200/share. Compared to the beginning of the year, NVL's stock price has decreased by about 40% and is at the bottom since its listing. The capitalization of this real estate company is less than VND20,000 billion.

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