Major shareholder related to Mr. Bui Thanh Nhon continues to register to sell Novaland shares

NovaGroup Joint Stock Company has just registered to sell 4.4 million NVL shares of No Va Real Estate Investment Joint Stock Company (Novaland) to balance its investment portfolio and support the company in debt restructuring. This is a company related to Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland. Chairman of Novaland is also the business manager of NovaGroup.

Major shareholder related to Mr. Bui Thanh Nhon - Chairman of Novaland continues to sell NVL shares

The above transaction of NovaGroup is expected to be carried out from February 28 to March 8, by order matching on the stock exchange or negotiation. If the sale is successful, NovaGroup's ownership will decrease from 367.34 million shares (18.83%) to 362.94 million shares (18.61%). It is estimated that with the current price of NVL shares at VND16,800, if all 4.4 million shares are sold, NovaGroup will earn about VND74 billion.

Previously, in the session of February 22, NovaGroup had 69,043 NVL shares that were being pledged by a securities company sold. This major shareholder has continuously sold NVL shares over the past six months.

Similarly, another major shareholder of Novaland, Diamond Properties, also registered to sell 4 million NVL shares to balance its investment portfolio. The transaction is expected to take place from February 26 to March 26, via order matching on the stock exchange and/or negotiation. If the sale is successful, Diamond Properties will reduce its ownership from 175.38 million shares (8.99%) to 171.38 million shares (8.78%). The total value of this transaction is estimated at more than VND67 billion. This is also a company related to Mr. Bui Thanh Nhon.

Currently, the group of shareholders related to the family of the Chairman of Novaland still holds about 793 million NVL shares (40.66% of capital). This ratio is sharply reduced compared to the number of NVL shares previously owned with nearly 1.19 billion units (accounting for 60.85% of capital) in mid-2022...

Source: https://thanhnien.vn/co-dong-lon-lien-quan-ong-bui-thanh-nhon-tiep-tuc-dang-ky-ban-co-phieu-novaland-185240227085748771.htm