Many major shareholders of Novaland registered to sell nearly 19 million shares

Several major shareholders of No Va Real Estate Investment Group Joint Stock Company (Novaland - stock code NVL) registered to sell nearly 19 million NVL shares to balance the portfolio, support debt restructuring and for personal reasons.

Specifically, NovaGroup Joint Stock Company - the largest shareholder of Novaland - registered to sell more than 3.9 million shares with the aim of balancing the investment portfolio and supporting 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 nearly 338.8 million shares, equivalent to 17.373% of capital, to 334.85 million shares, equivalent to 17.171% of capital at Novaland. NovaGroup is the organization in which Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland, is the largest shareholder, owning 70% of capital.

Major shareholders of Novaland registered to sell nearly 19 million shares

PHOTO: NVL

Another major shareholder, Diamond Properties, also registered to sell more than 3.2 million NVL shares for the same purpose. After successful implementation, they are expected to hold nearly 8.483% of the capital. Diamond Properties is a company chaired by Ms. Cao Thi Ngoc Suong, wife of Mr. Bui Thanh Nhon.

In this sale registration, there are 3 other shareholders: Ms. Cao Thi Ngoc 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.

At the end of the trading session on May 12, NVL shares stood at a reference price of VND12,300. It is estimated that the above-mentioned group of major shareholders will earn about VND233 billion when selling.

Sharing with shareholders recently, Chairman of the Board of Directors of Novaland Group Bui Thanh Nhon said that after 3 years of restructuring, the enterprise has overcome the most difficult period. This year will be a turning point marking the return of Novaland. According to this year's business plan, Novaland expects a loss of at least 12 billion VND, and at most 688 billion VND, depending on the progress of resolving legal problems. However, this plan has improved by 84 - 99% compared to the loss of 4,359 billion VND last year...

Source: https://thanhnien.vn/nhieu-co-dong-lon-cua-novaland-dang-ky-ban-gan-19-trieu-co-phieu-185250512170543829.htm