In the context of the gloomy Vietnamese stock market, shares of Novaland (code: NVL) have unexpectedly risen to the ceiling of 10,300 VND/share, with high demand for purchase. This growth occurred following the news that Ho Chi Minh City has resolved many legal issues concerning projects, including Novaland’s projects. To date, Ho Chi Minh City has issued ownership certificates for about 87% of troubled apartments.
Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland, asserted that 2025 will be a crucial year with an effective operational strategy and a commitment to sustainable development. He emphasized that Novaland will not only restructure to survive but aims for a significant breakthrough.
Despite Novaland’s financial difficulties with depleting cash and challenges in meeting short-term financial obligations, the company still expects to improve its financial situation, projecting losses between 12 billion and 688 billion VND in 2025, compared to 4,395 billion VND in 2024.
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