The State Securities Commission (SSC) has imposed a fine of 85 million VND on Novaland Corporation for failing to disclose information regarding bond commitments and its semi-annual financial report for 2024. Specifically, Novaland did not publish details on the usage of funds from the bond issuance and profit discrepancies. Additionally, the company was late in announcing various documents related to bonds. In another development, Novaland approved a plan to issue nearly 48.8 million employee stock ownership plan (ESOP) shares at 10,000 VND per share, expecting to raise over 487.5 billion VND to support its business operations. The offering is planned for Q2 to Q3 of 2025.
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