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On April 23, 2026, Novaland Group (HoSE: NVL) held its 2026 Annual General Meeting of Shareholders at NovaWorld Phan Thiet.
For 2026, Novaland set three priorities: completing financial and governance restructuring; accelerating legal and construction progress for projects; and raising governance standards toward lean, disciplined, and effective management.
The company targets 2026 net revenue of 22,715 billion VND, up 3.26 times versus 2025 results. Profit after tax for 2026 is targeted at 1,852 billion VND. Novaland did not pay dividends in 2025, and retained earnings will be used to focus on revival plans.
In his opening remarks, Chairman of the Board Bùi Thành Nhơn said Novaland will focus on fulfilling commitments at key projects including Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, and central Ho Chi Minh City projects such as The Grand Manhattan, Victoria Village, and The Park Avenue.
Novaland’s 2026 goals include delivering more than 2,600 products, issuing more than 4,300 “pink book” deed documents for projects in central Ho Chi Minh City, and continuing new sales supported by ready-to-sell inventory of over 2,100 products.
By 2030, the company estimates cumulative revenue potential from ongoing projects at over 470 trillion VND. Novaland also reported having more than 2,400 hectares of undeveloped land bank, concentrated in areas with strong economic-tourism potential. The company said it will selectively leverage this land bank, focusing on projects that generate cash flow and sustainable value.
The AGM approved capital-raising options, including adjustments to a private share issuance plan that was not implemented in 2025. Under the revised plan, Novaland may issue up to 800 million shares at an issue price not lower than 75% of the 30-day average closing price prior to Board approval.
The ESOP plan for 2026 is expected to include more than 111.7 million shares, representing 5% of the total, with a minimum price of 10,000 VND per share.
On financial restructuring, Novaland continues pursuing a strategy to issue shares to exchange the principal of bonds and strengthen negotiations with bondholders. The company is also seeking suitable investors to continue implementing loans that can be converted into equity.
For an international bond package worth over USD 300 million with a 5.25% annual coupon, the AGM approved extending interest payments, with the new maturity date set for 16 July 2028.
In addition, the AGM approved issuing up to nearly 167.6 million bonus shares at a ratio of 40:3, meaning shareholders holding 40 shares will receive 3 additional shares.
Novaland said these measures are expected to be implemented in 2026, with bonus share issuance prioritized first, followed by private placement, ESOP, and other options. The company stated the actions are intended to reinforce group financial resources, accelerate project development, and optimize shareholder value.
The AGM approved a 5-member Board of Directors, including 1 independent director. The meeting elected 2 new directors and 1 independent director to replace three seats expiring in 2026 in accordance with legal requirements.
On the same day, the Board approved appointing Bùi Cao Nhật Quân as Chairman for the 2026–2031 term.
The AGM also approved a Strategy-ESG Committee to enhance strategic oversight and ESG standards across the group, with Bùi Thành Nhơn serving as chair. The committee’s role is to advise on mid- and long-term strategic direction and to ensure sustainable development targets and ESG standards are implemented across the Group.
Novaland AGM and leadership changes were reported by Phụng Tiên.
Source: Nhịp sống thị trường – Copy link – 04/23/2026 17:59 (GMT+7)
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