Property developer Novaland’s charter capital to top $1 bln
Novaland, a leading property developer in Vietnam, plans to issue 482.6 million new shares and increase its charter capital to VND24,275 billion, or over $1 billion.
The Ho Chi Minh City-based Novaland Investment Group JSC, listed on the Ho Chi Minh Stock Exchange as NVL, has submitted to the State Securities Commission its plan for the share issuance, with a face value of VND10,000 ($0.43) for proceeds of VND4,826 billion ($206 million).
The new shares will be issued within 45 days of receiving the regulator’s approval; and the company expects it to happen this year.
Earlier this month, Novaland's board of directors had approved a plan to borrow $100 million from Singapore’s investment fund Credit Opportunities III Pte.
Novaland, one of Vietnam’s largest listed companies, had also announced this June that world-leading private equity firm Warburg Pincus has led a $250 million investment in the Vietnamese company. The deal marked the New York-based giant’s first investment in Novaland, kicking off their strategic partnership.
Novaland plans to use the proceeds to continue expanding its land bank and complete its ongoing flagship projects in southern Vietnam.
The beachfront 1,000-hectare NovaWorld Phan Thiet is a hospitality destination in Binh Thuan province, south-central Vietnam. Photo courtesy of Novaland.
The developer expects its mega-scale projects like Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram and others in Ho Chi Minh City to boost its 2022 revenues to VND36 trillion ($1.54 billion), more than double last year’s results.
The developer has set a goal of expanding its presence by 2030 to 50 urban areas in 30 cities and provinces with great economic and tourism potential.
In the second quarter of 2022, Novaland’s net revenue and gross profit reached VND2,658 billion ($113.5 million) and VND1,127 billion ($48.14 million), up 4.5% and 31% year-on-year, respectively.
Its first half net revenue and gross profit were VND4,614 billion ($197 million) and VND1,847 billion ($78.9 million), respectively. Its January-June profit before tax decreased 4% year-on-year to VND2,641 billion ($112.8 million).
- Related News
- Read More
Deposit rates remain elevated: Where can savers get best returns?
Bank deposits are regaining appeal as an investment channel as deposit rates at some Vietnamese commercial banks have climbed to as high as 8-10% per year.
Banking - Thu, May 28, 2026 | 11:43 am GMT+7
F88 named among Vietnam’s top 3 workplaces in 2026: A people-first strategy in focus
F88 has been named among the Top 3 Best Workplaces in Vietnam 2026 in the large enterprise category, an accolade that reflects the company’s long-term focus on employee development and workplace culture built on trust, support and career growth.
Companies - Thu, May 28, 2026 | 10:54 am GMT+7
Taiwanese FDI into Vietnam: The shift of the value chain
Taiwanese investment in Vietnam is shifting from low-cost assembly toward higher-value sectors such as semiconductors, AI servers, networking equipment, and industrial robotics, positioning the country as a deeper link in the global technology supply chain.
Industries - Thu, May 28, 2026 | 8:47 am GMT+7
Why Vietnam chose a single nationwide textbook series for schools
Vietnam will adopt a single nationwide textbook series, “Ket noi tri thuc voi cuoc song” (Connecting knowledge with life), starting from the 2026-2027 academic year, as part of a broader education reform strategy aimed at standardizing teaching materials and eventually providing free textbooks to all students by 2030.
Companies - Wed, May 27, 2026 | 9:35 pm GMT+7
EVNGENCO3 completes 31% of 2026 power output target in first 4 months
EVNGENCO3 reported electricity output of 9.77 billion kilowatt-hours in the first four months of 2026, up 2.06% from a year earlier and equivalent to 30.67% of its full-year target, according to an investor report released by the company.
Companies - Wed, May 27, 2026 | 9:05 pm GMT+7
Former Vietnamese health minister sentenced to 6 years in prison over hospital project losses
Nguyen Thi Kim Tien, former Minister of Health, was sentenced to six years in prison on Tuesday and ordered to pay compensation of VND108 billion ($4 million) in a major corruption and wastefulness case linked to two large-scale hospital projects.
Society - Wed, May 27, 2026 | 5:51 pm GMT+7
Novatek explores LNG-to-power opportunities in Vietnam
Russian energy giant Novatek is seeking opportunities to engage in Vietnam’s LNG-to-power sector in line with the Southeast Asian country’s development strategy.
Energy - Wed, May 27, 2026 | 5:26 pm GMT+7
Petrovietnam opens bidding for offshore block in Cuu Long basin
State-owned Petrovietnam has launched bidding for Block 17 in the offshore Cuu Long basin as Vietnam accelerates efforts to secure new oil and gas resources amid declining output from aging fields.
Energy - Wed, May 27, 2026 | 4:19 pm GMT+7
How Thai capital deepens its roots in Vietnam’s economy
Leading Thai corporations are rapidly strengthening their footprint in Vietnam through large-scale investments in manufacturing, retail, energy, logistics, finance, and industrial real estate.
Investing - Wed, May 27, 2026 | 3:58 pm GMT+7
Building high-performing organizations through trust, empowerment and people-first leadership
As businesses navigate increasingly complex market conditions, the conversation around high performance is also evolving. Beyond speed and execution, organizations today are under growing pressure to remain agile, resilient, and people-centered at the same time.
Companies - Wed, May 27, 2026 | 3:38 pm GMT+7
Vietnam stocks to offer opportunities across sectors in H2
Vietnam’s stock market is expected to retain growth potential in the second half of 2026 despite mounting pressures from inflation, geopolitical tensions and increasingly cautious capital flows, according to market analysts.
Finance - Wed, May 27, 2026 | 3:12 pm GMT+7
Trung Nam Renewable Energy raises $73 mln in private bond issuance
Trung Nam Renewable Energy Corporation has successfully raised VND1.93 trillion ($73.28 million) through a private bond issuance with a four-year tenor and annual interest rate of 10.7%.
Companies - Wed, May 27, 2026 | 2:32 pm GMT+7
Vinhomes gold-for-property scheme sparks debate over liquidity boost and financial risks
A new program allowing homebuyers to exchange gold for real estate is drawing attention in Vietnam as developers seek to channel idle household gold holdings into the property market through a structure tied to gold valuation and guaranteed returns.
Real Estate - Wed, May 27, 2026 | 9:03 am GMT+7
PVFCCo expands agricultural cooperation in Laos
As Vietnam and Laos continue to strengthen bilateral ties, agricultural cooperation between the two countries is expanding, with Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My) seeking to reinforce the position of Vietnamese fertilizer products in supporting Lao farmers to improve productivity and develop modern agriculture.
Companies - Tue, May 26, 2026 | 9:37 pm GMT+7
PV Gas posts record revenue equal to 1.1% of Vietnam’s GDP
At its 2026 annual general meeting of shareholders last Friday, PV Gas, a key subsidiary of stated-owned Petrovietnam, received strong shareholder backing after reporting record growth in 2025 despite heightened volatility in global energy markets.
Companies - Tue, May 26, 2026 | 8:35 pm GMT+7
Thaco eyes logistics, urban rail development in central Vietnam investment expansion plans
Vietnamese conglomerate Thaco has proposed a large-scale expansion of its investment footprint in the central province of Lam Dong as local authorities push to accelerate regional economic restructuring.
Industries - Tue, May 26, 2026 | 5:21 pm GMT+7
