2 major shareholders of Novaland registered to sell nearly 90 million shares

Specifically, NovaGroup Joint Stock Company (NovaGroup) and Diamond Properties Joint Stock Company have just registered to sell nearly 90 million Novaland shares from May 8 to June 8 by order matching or negotiation.

Of which, NovaGroup registered to sell nearly 70 million NVL shares during this period. If the transaction is successful, this organization will reduce its ownership in Novaland from 570.5 million shares (29.26%) to nearly 501 million shares (25.69%).

A project of Novaland

Recently, NovaGroup also sold NVL shares proactively and was liquidated.

In addition, Diamond Properties Company (chaired by Mr. Bui Thanh Nhon's wife) also registered to sell more than 18.4 million NVL shares. If this transaction is successful, Diamond Properties will reduce its ownership from 202.1 million shares (10.36%) to 184.3 million shares (9.42%).

Previously, Diamond Properties also sold 1 million NVL shares between mid-February and early March 2023.

Closing the trading session before the long holiday, along with the strong increase of real estate stocks, NVL shares also increased to 14,300 VND. Compared to the price of just over 10,000 VND/share 2 months ago, NVL shares have increased by about 40%.

According to the plan, Novaland will issue 1.95 billion shares to existing shareholders at a starting price of VND10,000/share. The amount of about VND19,500 billion raised from this issuance will be used to restructure debt, pay salary expenses and invest in the group's projects.

In addition, Novaland plans to issue 975 million shares through private placement at a price not lower than VND10,000/share, expected to raise VND9,750 billion.

Source: https://nld.com.vn/kinh-te/2-co-dong-lon-cua-novaland-dang-ky-ban-ra-gan-90-trieu-co-phieu-2023042817413602.htm