Novaland holds extraordinary General Meeting: 2,645 billion VND debt of 2 companies related to Bui Thanh Nhon to be converted into shares

On July 15, Novaland announced an extraordinary General Meeting on August 7 at NovaWorld Phan Thiet to discuss issuing private shares to convert debts. The company will convert 2,645 billion VND of debt with major creditors like Novagroup and Diamond Properties. The number of NVL shares to be issued will depend on the conversion price set by the Board on July 31, 2025, based on the average closing price over the last 30 trading days. These shares will be subject to a one-year transfer restriction. After conversion, creditors will become shareholders, and debts will be erased, increasing the company’s equity. The implementation period is expected between Q4 2025 to Q1 2026 after approval from the State Securities Commission. On July 16, NVL shares rose by 1.32% to 15,300 VND/share.