Strong selling pressure has not shown signs of stopping with millions of NVL shares of No Va Real Estate Investment Group Joint Stock Company (Novaland) in the trading session on May 5. NVL decreased by 6.8% to 17,800 VND, matching more than 33.3 million units and surplus selling at floor price of more than 44.6 million units.
This is the second consecutive session that this stock has hit the floor. Strong selling pressure has not shown signs of stopping with millions of shares at floor prices. Capitalization evaporated more than 6,000 billion VND, down to 39,700 billion VND.
The decline appeared right after this stock just experienced a spectacular breakthrough in the past 2 months.NVL shares doubled sharply, from about 10,000 VND/share to 20,500 VND/share (closing session on April 29, 2026), the highest peak since mid-September 2023.
However, NVL shares are still increasing by 43% compared to the beginning of this year, with an average liquidity of more than 16.7 million shares/session.The unusual increase in liquidity in the late April period is considered a sign of distribution pressure.
Meanwhile, Novaland's business situation is relatively positive when revenue reached about 3,587 billion VND, double the same period last year and set the highest level in the last 5 quarters.After deducting expenses, Novaland recorded after-tax profit of about 860 billion VND, equivalent to a net profit of more than 10 billion VND per day.This is the second consecutive quarter that the business has maintained positive growth momentum, significantly improving compared to the loss of more than 476 billion VND in the same period last year.
Novaland has also just announced a decision to change its listing registration.The number of securities before the listing change is 2,232,018,549 shares, the number of securities after the listing change is 2,234,496,474 shares, corresponding to an increase in nearly 2.5 million units.This is the number of newly issued shares for convertible bond conversion.The listing change date takes effect from May 6, 2026.
The move to continue using shares to offset bond debt obligations takes place in the context that Novaland's total financial debt is still maintained at a high level, of which bond balance is about 25 trillion VND.
In fact, this is not the first time Novaland has applied this plan.By the end of 2025, 4 foreign investors had converted a total of 133 bonds, equivalent to 747 billion VND, to nearly 20.8 million NVL shares.
At the beginning of this year, NVL also completed the issuance of nearly 164 million shares to swap debts of more than 2.
577 billion VND for two creditors, Novagroup JSC and Diamond Properties JSC, at an issuance price of 15,747 VND/share.In 2026, Novaland sets a target of reaching 22,715 billion VND in revenue, 3.2 times higher than the results of 2025.
However, after-tax profit is only equivalent to the previous year, 1,852 billion VND.
