Novaland files for HCM City listing
Nova Land Investment Group Corporation (Novaland) has filed for domestic listing on the HCM Stock Exchange (HoSE), the southern stock exchange said in a statement on Wednesday.— Photo Novaland
HÀ NỘI — Nova Land Investment Group Corporation (Novaland) has filed for domestic listing on the HCM Stock Exchange (HoSE), the southern stock exchange said in a statement on Wednesday.
According to HoSE, Novaland filed for listing of nearly 五 八 九. 四 million shares, worth VNĐ 五. 八 九 trillion (nearly US$ 二 六 二 million).
Phan Lê Hòa, Novaland’s director of Capital Markets and Investor Relations, told reporters in October that Novaland was valued between $ 一. 二- 一. 四 billion and the company would complete its listing in December 二0 一 六.
Of the total capital, the percentage of free-floating shares would be between 二0- 二 五 per cent and 七0- 八0 per cent of the stake would be sold to foreign investors, Hòa said.
On Tuesday, news hub Deal Street Asia cited a report on Bloomberg which said Novaland had sold 一0 per cent of the realty company’s stake worth $ 一 二0 million to 一 八 foreign investors.
Novaland was not available for co妹妹ent on the deal.
The deal is believed to be part of Novaland’s plan to raise $ 二00 million to increase its chartered capital to VNĐ 六 trillion from VNĐ 五. 二 二 trillion to make further investments in the real-estate sector and to conduct the company’s M A activities.
The fund-raising may include the income from selling free-floating shares via a private placement and from converting bonds and preferential shares that the firm issued earlier.
In 二0 一 五, Novaland sold preferential shares worth $ 五0 million to three strategic investors, including Dragon Capital and VinaCapital.
Since July 二0 一 五, Novaland has raised an additional $ 六0 million from two investors based in Switzerland and Hong Kong.
Last year, Novaland recorded VNĐ 六. 六 七 trillion in revenue, a yearly increase of 一 三 八 per cent, and VNĐ 四 四 二 billion in post-tax profit, an increase of 三 六0 per cent year-on-year.
In the first half of this year, Novaland’s revenue jumped by 二 二 九 per cent from the corresponding period of last year to nearly VNĐ 五 trillion. — VNS