Mr. Bui Thanh Nhon's daughter wants to sell 9.1 million Novaland shares

No Va Real Estate Investment Joint Stock Company ( Novaland - NVL) has just announced that Ms. Bui Cao Ngoc Quynh, daughter of Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland , will sell 9.1 million NVL shares from May 9 to June 6.

Accordingly, Ms. Quynh is holding more than 24.678 million NVL shares, accounting for 1.26% of charter capital. If the transaction is successful, Ms. Quynh's NVL share holding ratio will decrease to more than 15.56 million shares, accounting for about 0.79% of charter capital.

Novaland's project in Phan Thiet

On the market, NVL shares are currently priced at nearly VND15,000/share. Therefore, the value of Ms. Quynh's shares sold is nearly VND136.5 billion.

Currently, Mr. Bui Thanh Nhon is holding over 96.76 million NVL shares with a corresponding ratio of 4.96%.

In the first quarter of 2024, Novaland reported a loss of over VND 600 billion, mainly due to exchange rate differences. Accordingly, in the last quarter, Novaland recorded a total consolidated revenue of VND 1,338 billion. Of which, net revenue from sales reached nearly VND 503 billion, an increase of 11% over the same period last year, recorded from the handover of products at projects such as: NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Palm City, Lakeview City...

However, Novaland's after-tax profit was negative VND601 billion. Of which, more than VND452 billion was a loss due to exchange rate differences, mainly due to unfavorable exchange rate movements, leading to the revaluation of loans, bonds and other items denominated in foreign currencies.

Source: https://nld.com.vn/con-gai-ong-bui-thanh-nhon-muon-ban-91-trieu-co-phieu-novaland-196240506201213379.htm