After half a year of listing, Novaland Group was officially ranked in the list of “The 40 Most Valuable Brands in Vietnam” by Forbes for the first time in the company’s history.
|Lakeview City invested by Novaland|
|Novaland expects record revenue in 2017|
|Novaland backs out of Sacombank restructuring project|
|Housing developer Novaland to list, but no IPO|
|Novaland takes over urban project from Daewon|
|NovaLand sees golden opportunity|
As of the end of June 2017, Novaland has successfully completed the private placement of 33.46 million shares for a $60-million loan conversion from Credit Suisse AG’s Singapore branch under the approval of the State Securities Commission of Vietnam, according to the company’s latest statement.
The conversion ratio was based on the financial documents in 2016, settling at VND40,867 per share, although the reasonable conversion ratio proposed by an independent appraiser in March 2017 and the trading price of NVL as of July 5, 2017 were VND62,924 and VND68,100 per share, respectively.
Novaland’s improving market value has time and again shown sound signal for its shareholders and investors.
Officially listed at the Ho Chi Minh City Stock Exchange in December 2016, after more than three months, Novaland’s market capitalisation was nearly $2 billion and is now among the top ten biggest capitalised stocks of the whole market, not to mention being a particularly coveted eye-candy to foreign investors.
The group has actively diversified its financial structure for prudent capital management, such as this private placement to increase its chartered capital by 5.6 per cent from nearly VND6 trillion to VND6.3 trillion.
Novaland now has a portfolio of more than 40 projects with different types of products, such as townhouses, office-tels and condotels, trading centres, land houses, and villas.
Aside from six projects completed and delivered as committed, in the first quarter of 2017, Lakeview City in District 2, Lucky Dragon in District 9, and Orchard Garden in Phu Nhuan district have been handed over to residents. Novaland is expected to deliver nine more projects in 2017, aiming to maintain clients’ trust and its brand name in the real estate market.
Apart from making it to Forbes’ Top 40, Novaland has also been named in many reputable rankings in the market, such as “The 50 Best-Performing Listed Companies in Vietnam in 2016” and “The Top 50 Listed Companies in 2017” by Forbes.
By Bich Ngoc