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Novaland Investment Group Corp (NVL) has updated its 2026 annual general meeting (AGM) documents, adding board director nominations and advancing a multi-part capital raising plan, including a large bonus share issuance and an employee share ownership plan (ESOP).
NVL announced three candidates for the board of directors to replace members whose terms expire this year.
One nominee is Mr. Bùi Cao Nhật Quân (born 1982), the son of Chairman Bùi Thành Nhơn. Quan holds a Bachelor of Business Administration from Western Washington University (United States). He previously served as chief executive of Novaland Real Estate during 2007–2012, was a member of the NVL board from 2009–2017, and served as Vice Chairman of Nova Group from 2015 to June 2022.
Quan is currently a board member of Diamond Properties, President of BQ Capital, Vice Chairman of Nova Holding, and was appointed Chairman of NovaGroup in mid-April.
In terms of ownership, Quan holds more than 75.3 million shares, about 3.37% of NVL’s equity. NovaGroup is the largest shareholder with more than 491.8 million shares (about 22%), Diamond Properties holds 7.64%, and Chairman Bùi Thành Nhơn holds 4.34%. Collectively, Nhơn-related shareholders control roughly 40% of NVL.
Earlier in March, Quan returned to Novaland as Chairman of the Steering Committee at a signing event with LPBank.
The other two nominees are Phạm Tiến Vân and Hoàng Đức Hùng.
Alongside leadership changes, NVL submitted proposals for several share issuance components, with the company indicating an issuance sequence starting with bonus shares, followed by private placement, ESOP, and other options.
NVL proposed issuing up to nearly 167.6 million bonus shares at a 40:3 ratio, meaning shareholders with 40 shares would receive 3 additional shares. The expected implementation is in 2026 or as decided by the board.
The 2026 ESOP plan is expected to total over 111.7 million shares, representing 5% of the company. The minimum ESOP price is 10,000 dong per share, about 41% lower than the roughly 17,000 dong per share level observed on 20 April. If completed, the company could raise more than 1,117 billion dong. Shares would be subject to a minimum one-year lock-up.
NVL also plans to issue up to 800 million privately placed shares and will adjust the sale price to maximize shareholder value.
NVL also continues a private placement of 350 million shares that was not implemented in 2025. Separately, the plan to issue shares to swap debt has not progressed due to lack of consensus from bondholders, and is expected to continue in 2026.
For 2026, NVL aims for revenue of 22,715 billion dong, about 3.2 times 2025 results. Net profit is targeted at 1,852 billion dong, similar to last year.
NVL plans to hold the 2026 AGM in the afternoon of 23 April at Clubhouse NovaWorld Phan Thiet Golf Club, Hon Gio, Thuận Quý, Tiến Hòa village, Tiến Thành ward, Lâm Đồng province.
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