NBB Plans to Sell All 315,861 Treasury Shares in Q2-Q3 2026

Overview

Nam Bay Bay Investment Joint Stock Company (NBB, HoSE) has announced a plan to sell all 315,861 treasury shares during Q2-Q3 2026 to restructure its capital. The minimum sale price is set at 17,760 VND/share, based on the average closing price of the 10 trading sessions prior to the board resolution. The transaction is subject to regulatory approval from the State Securities Commission of Vietnam (SSC).

Key Facts

• NBB’s board approved the sale of all 315,861 treasury shares, representing 100% of its treasury stock.
• The sale is expected to occur in Q2-Q3 2026, after the SSC confirms receipt of complete documents.
• The minimum sale price is 17,760 VND/share, equal to the average closing price over the 10 sessions from April 29 to May 14, 2026.
• The transaction will be executed via negotiated deals and/or order matching on HoSE.
• Any difference between the purchase cost and sale price will be covered by the share premium account as of December 31, 2025.
• In Q1 2026, NBB reported net revenue of VND 3.8 billion, down 72.1% year-on-year, but net profit of VND 140.3 million, up 165%.
• As of March 31, 2026, NBB had total assets of VND 8,014.8 billion, with inventory of VND 4,341.9 billion (54.2% of assets) and total debt of VND 6,193.8 billion.

What Happened

NBB’s board of directors passed a resolution to sell the company’s entire treasury share holdings, totaling 315,861 shares. The sale is part of a capital restructuring plan, with proceeds intended to improve the company’s financial position. The company stated that the sale will be conducted at market price, with a floor of 17,760 VND/share, ensuring compliance with regulations.

The timeline for the sale is set for Q2-Q3 2026, contingent upon the SSC’s notification of receipt of complete and valid documents. NBB will use the share premium account to cover any loss if the sale price is below the original purchase price of the treasury shares.

Market Context

NBB shares closed at 17,800 VND on May 17, 2026, with low trading volume of 19,000 shares. The stock has been under pressure amid weak revenue performance in Q1 2026, with net revenue plunging 72.1% year-on-year. The company’s high debt level (VND 4,669.7 billion in borrowings, 75.4% of total liabilities) underscores the need for capital restructuring. The treasury sale, though small in absolute terms, may provide modest liquidity and signal management’s focus on deleveraging.

Strategic Significance

The treasury share sale is a tactical move to optimize NBB’s capital structure without diluting existing shareholders. By selling at a minimum price near the current market price, the company can raise approximately VND 5.6 billion (at the floor price), which could be used to reduce debt or fund working capital. However, the small size of the sale relative to NBB’s total outstanding shares (estimated at over 100 million shares) means the impact on liquidity and capital structure is limited. The move may also be a precursor to more substantial capital-raising activities.

What to Watch

• SSC approval timeline and any conditions imposed on the sale.
• Actual sale price achieved versus the floor price of 17,760 VND/share.
• NBB’s Q2 2026 earnings report to assess revenue recovery and debt reduction progress.
• Any further capital restructuring plans, such as equity issuance or asset sales.
• Changes in NBB’s inventory and debt levels in subsequent quarters.