Novaland prepares to request shareholders’ opinions on issuing 168 million private shares to exchange for a debt of 2.6 trillion VND

Novaland announced two proposals to issue over 168 million private shares to exchange a total debt of approximately 2.645 trillion VND and a convertible loan of up to 5 trillion VND, planned to be submitted for the extraordinary shareholders’ meeting on August 7. The issuance aims to restructure debts and improve the company’s finances, potentially raising its charter capital to over 21.181 trillion VND. The shares will be issued at a price of 15,746.667 VND/share. Three creditors involved in the debt exchange include NovaGroup, Diamond Properties, and Ms. Hoàng Thu Châu. Following the exchange, the ownership ratio of major shareholders is expected to increase to 42.428%. Additionally, Novaland will also propose a loan of up to 5 trillion VND with the right to convert into shares. The conversion rights will be executable 12 months after disbursement and will be pegged to market prices, not lower than 115% of the specific stock price.