In the context of a sluggish Vietnamese stock market, Novaland’s stock (NVL) unexpectedly skyrocketed to the ceiling price of 10,300 VND/share during the first trading session of the week, buoyed by positive news regarding financial obligations and legal issues. As of now, HCMC has resolved almost 87% of legal issues concerning over 70,675 properties. Novaland is committed to fulfilling financial obligations and aims to issue over 7,000 land use certificates to residents by 2025. Mr. Bui Thanh Nhon, the Chairman of Novaland, emphasized that the company will not just survive but will break through and focus on sustainable development and growth alignment with the national economy. However, Novaland is also facing severe liquidity issues and is projected to incur losses in 2025, although these losses are expected to decrease significantly compared to 2024. The annual shareholders meeting is scheduled for April 24.
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