5 major shareholders related to Mr. Bui Thanh Nhon want to sell nearly 19 million Novaland shares

NovaGroup, the largest shareholder of Novaland (NVL), has just registered to sell more than 3.9 million shares to balance its investment portfolio and support debt restructuring. The transaction is expected to be carried out by order matching and negotiation from May 16 to June 13. If successful, NovaGroup will reduce its ownership from 17.373% to 17.171% of NVL's capital.

Novaland's second largest shareholder, Diamond Properties, also registered to sell more than 3.2 million NVL shares for the same purpose. After successful implementation, it is expected that they will still hold nearly 8.483% of the capital.

"This move by NovaGroup and Diamond Properties demonstrates the spirit of the previous commitment to provide financial support when necessary, to help Novaland pay off due debts and help the company maintain continuous operations," said a representative of NVL.

NovaGroup is an organization in which Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland, is the largest shareholder, owning 70% of the capital. Diamond Properties is an enterprise in which Ms. Cao Thi Ngoc Suong, Mr. Nhon's wife, is the Chairman of the Board of Directors.

In this sale registration, there are 3 other shareholders: Ms. Suong and her two children: Bui Cao Nhat Quan and Bui Cao Ngoc Quynh. Mr. Nhon's three relatives registered to sell a total of nearly 11.6 million NVL shares for personal reasons. After the transaction, these 3 shareholders will reduce their ownership ratio to 6.818% of capital.

Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland Group, spoke at the annual meeting on April 24. Photo: NVL

During the recent general market panic, Novaland's stock price dropped to VND8,100 - a record low since its listing in late 2016. Currently, this code has recovered, closing the morning session on May 12, NVL's market price reached VND12,450.

According to this year's business plan, NVL expects a loss of at least VND12 billion and at most VND688 billion, depending on the progress of resolving legal problems. The company aims to hand over 1,546 products this year, including Aqua City, NovaWorld Ho Tram, NovaWorld Phan Thiet and project clusters in Ho Chi Minh City.

Regarding the debt restructuring roadmap, the company's board of directors said that most of the loans and bond debts will be processed from late 2026 to 2027. The group is in the recovery phase, however, debt settlement and debt restructuring negotiations still face many risks and difficulties.

(According to Vnexpress.net)

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/128664/5-co-dong-lon-lien-quan-ong-Bui-Thanh-Nhon-muon-ban-gan-19-trieu-co-phieu-Novaland