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Novaland denies bankruptcy rumors and announces bond conversion
Novaland Group has officially issued a statement denying rumors circulating on social media and various news platforms regarding the company’s bankruptcy or loss of operational capacity. The real estate developer clarified that these claims do not accurately reflect its legal status or actual business operations. The company stated it is currently focused on implementing restructuring solutions and gradually recovering its business activities while fulfilling commitments to customers and partners.
In a separate financial move, Novaland has approved a plan to issue approximately 1.73 million common shares to convert 10 international bonds held by BNP Paribas Financial Markets. The conversion price is set at 34,000 VND per share, which is significantly higher than the current market price. This conversion involves a total value of approximately 2.36 million USD.
Additionally, Novaland is proceeding with a large-scale capital mobilization plan. The company intends to offer up to 800.7 million shares to existing shareholders at a price of 10,000 VND per share, aiming to raise nearly 8,007 billion VND. Despite the company's denials of insolvency, its stock (NVL) experienced volatility, dropping 2.84% to 10,250 VND on the morning of October 6.
Entities
Aqua City · BNP Paribas Financial Markets · Bui Thanh Nhon · Dong Nai Province · Ho Chi Minh City Stock Exchange · Novaland Group · Victoria Village · Vietnam
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Dong Nai province approved specific land prices for eight sub-zones of the Aqua City project in late September.
- [○ 1 SOURCE] The company's projected profit after tax for the first nine months of 2026 is over 2,800 billion VND.
- [● 4 SOURCES] Novaland denied rumors that the company is bankrupt or has lost its ability to operate. kinhdoanhvaphattrien.vn · kevesko.vn
- [● 2 SOURCES] Novaland plans to raise approximately 8,007 billion VND by offering 800.7 million shares to existing shareholders at 10,000 VND per share.
- [● 3 SOURCES] The company is implementing restructuring solutions and recovering business operations. kinhdoanhvaphattrien.vn · kevesko.vn
- [○ 1 SOURCE] Novaland's stock (NVL) decreased by 2.84% to 10,250 VND per share on the morning of October 6.
- [○ 1 SOURCE] Novaland's expected Q3 2026 revenue is over 5,000 billion VND, a 200% increase year-on-year.
- [○ 1 SOURCE] The company has handed over more than 1,000 products since the start of the year, primarily at Victoria Village and Aqua City.
- [● 2 SOURCES] BNP Paribas Financial Markets will convert 10 international bonds into 1.73 million Novaland shares at a price of 34,000 VND per share.