Before listing, Novaland will increase its charter capital to VND6,000 billion through the mobilization of capital from local and foreign credit institutions.
Novaland Group is currently planning to list its shares by the end of 2016. Novell Group will be privately held by reputable financial institutions. potential. The issue of this stock is through offering to some investors selected by Novaland.
Most of the proceeds from this issuance will be used to develop projects, supplement working capital and pay off the debts of the company. After listing, Novaland’s free-float ratio is expected to be between 20% -25%.
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“In early November, we will send documents to the Ho Chi Minh City Stock Exchange to apply for listing. Six to eight weeks will be reviewed and licensed. At the time, Novaland would become a public company, creating a new channel for capital mobilization and more transparent operation, “Novaland’s representative said.
In this share issue, Novaland will sell 70% -80% of its shares to foreign investors. The remaining banks, securities companies in the country. “The offer price will certainly be welcomed by investors. Novaland’s goal is to be capitalized and liquid in the VN30, “Novaland representative added.
In the future, Novaland focuses on sustainable development. The product segment is targeted at mid-range and high-end customers. The land fund of the company is large enough to do the project for the next eight years.
In the first six months, Novaland has sold 3,800 products. In 2015, the group sold 6,686 officetel and apartments. Previously, Novaland focused on building high-rise apartment building. Upcoming, Novaland will develop more projects for townhouses, high-end villas.
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Typical for the shift to the Novaland townhouse segment is the Lakeview City project in District 2. Lakeview City is located in the Rach Chiec residential area, covering an area of over 30 hectares. This project is a new multi-functional urban area with technical infrastructure and synchronous transport infrastructure.
Lakeview City’s products are duplex villas, townhouses, garden townhouses, commercial townhouses. Delivery time is expected in early 2017.
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