With great profits, a well-known brand, clear development strategy, and abundant land funds, Novaland shares will become blue chips when it goes public.
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In this morning (December 28), Novaland Corporation will officially be listed on Ho Chi Minh Stock Exchange – HOSE. With 596,199,234 shares listed, based on the reference price of VND 50,000 / share, Novaland’s capitalization is about VND 29,500 billion. Meanwhile, the chartered capital will be approximately VND5,962 billion.
Currently, Novaland is the leading real estate company in Ho Chi Minh City with more than 40 projects spanning the center to East, West and South Saigon. However, this group has just entered the real estate sector in 2007.
At that time, the Nova Group was formed with two main areas managed by two independent companies: Anova Corporation, a veterinary drug, and nutritional food company. Novaland Group invests in real estate.
The first project of the Novaland Group is Sunrise City in District 7, Ho Chi Minh City and was started in 2009. From 2014 to now, Novaland has dozens of projects located in the prime location in Ho Chi Minh City… Currently, Novaland has 11 trading floors and 3 branches.
In the first six months of 2016, Novaland has sold 3,800 products. In 2015, the Group sold 6,686 officetel and apartments. The above-mentioned figures show the strong development of Novaland when looking through Phu My Hung Company, despite 15 years of real estate development in the South, Phu My Hung has 15,000 products.
As well as increasing its land fund through acquisitions, mergers and development cooperation with partners, Novaland has opened 10 new projects in 2015 and 5 new projects in the first nine months of 2016. According to the Novaland prospectus, the location of the Group’s projects is very good, usually acquired or co-invested with other real estate firms.
Consolidated financial statements for 9 months ended 2016 showed that Novaland’s short-term homebuyers reached 5.569 trillion dongs. For the first nine months, Novaland reached VND7.776 trillion, 3 times higher than the same period in 2015. After-tax profit of VND1.561 trillion, gaining 94.6% of the full year target.
Previously, Novaland focused on building high-rise apartment building. Now, the group is gradually moving to develop more projects of townhouses, high-end villas.
Typical for the transition from tall buildings to urban and low-rise buildings of Novaland is Lakeview City, a 30-hectare project in District 2. In addition, there are a series of other urban areas such as Gold Park in District 9, Harbor City in district 8 of 50ha, Palm Marina in district 9 near 300ha prepared to “sprung up”.
Novaland is also gradually expanding into resort real estate by acquiring Sunrise Bay project in Danang with 180ha, Serai Nova Phu Sa Resort in Can Tho with a width of 195ha … These projects are in the development period from 2016. – 2018.
“We are confident that with this new fund, Novaland will have sufficient financial resources to grow in the coming period with high capacity. reached the top 30 companies have capitalization and the largest liquidity of the market.
Novaland listing on the HOSE is the most anticipated event of the real estate market in 2016. Although the real estate business but the Novaland brand belongs to the most prestigious in the market.
Talking to reporters, expert Tran Khanh Quang said that certainly Novaland stock will be hunted and become blue chip. “Novaland’s stock price will rise after listing. The lowest is 70,000 dong and the highest is 110,000 dong, “Quang said.
According to Quang, after-tax profit of Novaland as of September 30 was VND1.560 trillion dong. Thus, each quarter this Group words VND520 billion. Expectedly, the fourth quarter of 2016 will also reach more than VND500 billion or more.
“Based on the price-to-earnings ratio, the lowest price is VND70,000 dong. At that time, the price-to-earnings ratio is 20. The price-to-earnings ratio is 30, the stock price will be VND110,000 dong, “Quang explained.
The expert also said that the real estate market is attractive. In addition, Novaland has many advantages over its large revenue and profitability, stable operating structure, long-term strategic vision, market leadership. As a result, Novaland shares will soon build their position and push the value up.
Other experts also commented that Novaland was the most rewarding stock at the moment. With long-term growth strategy as Novaland has announced, the company’s shares will soon be among the highest value in the stock market.
At present, there are more than 100 listed real estate companies. With a floor price of VND50,000 per share on Nov 28th, Novaland will become the second largest market capitalization on the stock market, with VND29.5 trillion. Thus, the Group’s capitalization is only behind Vingroup Group, with VND111.575 billion. However, Novaland will drop other businesses like Kinh Bac – KBC with VND6,459 billion, Vinaconex – VCG with VND6,051 billion, FLC with VND3,139 billion, Khanh Dien with KDH with VND4,680 billion, Dat Xanh Group with DXG 3.099. billion…. In the first nine months of 2016, total assets of Novaland reached VND 32,480 billion. This figure is much larger than many other real estate enterprises such as Vinaconex with VND21,500 billion, FLC with VND17,000 billion, Kinh Bac with VND14,700 billion …
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