No Va Land issues stock to convert some 5.5% convertibles due 2023

By Rebecca Melvin

New York, Nov. 17 – No Va Land Investment Group Corp. (Novaland Group) said it received regulatory approval to issue new shares and that it has converted five of its 5.5% convertible bonds due 2023 into stock.

The share issuance plan was approved by the Singapore Stock Exchange and other authorities, according to a company announcement.

The convertibles, which are listed on the Singapore Stock Exchange, were converted at a ratio of 75,910 shares per bond, and the company issued 379,550 shares for the conversion of the bonds.

The real estate development and leasing company is based in Ho Chi Minh City, Vietnam.

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