HANOI : Vietnamese property giant No Va Land is restructuring its debt and is in talks with creditors on repayment terms, its chairman said on Thursday, seeking to bring its business back to full swing by the end of this year.
The company's shares on Thursday were trading at 14,650 dong per share, 80 per cent lower than a year ago. "The group's business activities will recover in the third quarter of 2023," Nhon said.Reuters last month reported No Va Land, whose total exposure to foreign creditors was worth about $1 billion at the end of last year, comprising bonds as well as loans with short and long-term maturities, was in talks with creditors including Credit Suisse to restructure debts.
Source: News Formal (newsformal.com)
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