Novaland Group continues to take action to address liquidity and sales difficulties by announcing a significant discount for customers of the NovaWorld Phan Thiet project (1,000 hectares).
NovaReal JSC (a member of Novaland) sent a notice to customers about selecting the Repurchase Commitment Program at the Ocean Dunes Resort and Villas project in Tien Thanh commune, Phan Thiet City, Binh Thuan (NovaWorld Phan Thiet).
The company commits to refunding the deposit and penalty interest for customers who buy NovaWorld Phan Thiet or further reducing prices deeply if the customers do not return the purchased product.
The preferential price is 15% of the total value of the deposit and a 5% discount for new products purchased in projects developed by Novaland. Customers can also transfer the deposit to a new product (including interest) with a 10% discount or the company will refund the actual deposited amount and the accrued interest.
NovaWorld Phan Thiet used to be a hot spot of the resort real estate market during the period of 2020 – 2021. (Photo: NVL)
A representative of Novaland said that basically, this is a solution similar to what Novaland has done with the defaulting group and customers who have pledged to support interest rates. Novaland also made additional commitments to partners and customers so that the parties can find a common voice.
“At this time, since we have not been able to fulfill the initial commitment, we have made changes to address immediate and long-term difficulties, and customers will also be offered preferential treatment,” the representative said.
In addition, the group is still working with defaulting partners and has achieved many results, but “specific figures have not yet been finalized.”
Two weeks ago, Novaland shares (NVL) had strong increases, even reaching the ceiling before the group announced the successful extension of VND 1,750 billion in bonds and a plan to increase capital to VND 48,750 billion. Tens of millions of NVL shares were matched per session.
On March 24, Novaland announced the results of a text vote by shareholders. A notable content approved was the issuance of more than 975 million private shares at a price not lower than VND 10,000/share for strategic investors and professional securities investors. The amount raised if the sale is successful is at least VND 9,750 billion.
At the same time, Novaland will offer an additional 1.95 billion shares to existing shareholders, corresponding to a 1:1 implementation ratio, and the selling price is not lower than VND 10,000/share. If this plan is successful, Novaland can collect VND 19,500 billion.
In case both issuance plans are approved and successfully executed 100%, Novaland’s charter capital will increase by 2.5 times, from nearly 19,500 billion VND to 48,750 billion VND (equivalent to a total increase of over 1.2 billion USD), becoming one of the companies with the largest charter capital on the Vietnamese stock market.
@Vietnamnet