Large-cap property developer Novaland (HOSE: NVL) will finalise on March 28 the list of shareholders to whom the company will issue bonus shares on a 100:31 ratio. This means each shareholder will receive 31 bonus shares for every 100 shares he has.
Novaland is trading more than 652.6 million shares and with this issuance ratio, the company could issue an additional 202.3 million shares.
The face value of each share being issued is VND10,000, making the value of the deal more than VND2 trillion (US$88.1 million).
The bonus shares will not be forbidden from being traded, adding the total number of Novaland’s outstanding shares up to 845 million.
Novaland shareholders recently approved the firm’s plan to list shares on a foreign stock exchange, such as the Singapore Stock Exchange, in 2018-19.
The firm’s shareholders have also approved the company to sell a maximum of 100 million shares under a private placement deal in 2018 at a price level not lower than the book value of the company shares on the date of selling.
Novaland plans to hold its annual shareholders’ meeting on April 26, 2018.