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

NovaGroup Joint Stock Company has registered to sell 4.4 million NVL shares of Nova Real Estate Investment Joint Stock Company ( Novaland ) to balance its investment portfolio and support the company's debt restructuring. This company is related to Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland. The Chairman of Novaland is also the business manager of NovaGroup.

Major shareholders associated with Mr. Bui Thanh Nhon - Chairman of Novaland - continue selling NVL shares.

NovaGroup's transaction is expected to take place from February 28th to March 8th, through order matching on the exchange or negotiated transactions. If the sale is successful, NovaGroup's ownership will decrease from 367.34 million shares (18.83%) to 362.94 million shares (18.61%). Based on the current NVL share price of VND 16,800, selling all 4.4 million shares would generate approximately VND 74 billion for NovaGroup.

Previously, on February 22nd, NovaGroup had 69,043 NVL shares, which were pledged as collateral, sold by a securities company. This major shareholder has been continuously selling NVL shares over the past six months.

Similarly, another major shareholder of Novaland, Diamond Properties, has also registered to sell 4 million NVL shares to balance its investment portfolio. The transaction is expected to take place from February 26th to March 26th, through order matching on the exchange and/or negotiated transactions. 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 estimated total value of this transaction is over 67 billion VND. This company is also related to Mr. Bui Thanh Nhon.

Currently, the group of shareholders related to the family of the Novaland Chairman still holds approximately 793 million NVL shares (40.66% of capital). This percentage has decreased sharply compared to the nearly 1.19 billion NVL shares they once owned (60.85% of capital) in mid-2022...

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