NovaGroup continues to register to sell more than 136 million Novaland shares

NovaGroup Joint Stock Company has just registered to sell nearly 136.4 million NVL shares of No Va Real Estate Investment Group Joint Stock Company ( Novaland ) to balance its investment portfolio and support debt restructuring. According to NovaGroup, the purpose of this transaction is to balance its investment portfolio and support debt restructuring, as well as other obligations.

The expected transaction time is from June 16 to July 14 by order matching or negotiation based on the actual situation of the transaction day. Currently, NVL shares are priced at VND15,200 and the lot of NovaGroup shares to be sold will be worth more than VND2,073 billion.

NovaGroup continuously sells NVL shares to restructure debt

If completed as planned, the number of NVL shares owned by this unit will decrease from nearly 539.7 million units to more than 403.3 million units, and the ownership ratio at Novaland will also decrease from 27.675% to 20.681% of charter capital.

Previously, NovaGroup sold 267,737 NVL shares by order matching from June 7 to 9. In total, NovaGroup sold more than 14.4 million NVL shares from May 10 to June 8, equivalent to more than 20% of the total of more than 69.6 million shares registered for sale in early May. According to NovaGroup, the reason for not completing the transaction was changing the transaction time to match the company's debt restructuring plan. In April, NovaGroup also sold 12 million NVL shares to support debt restructuring.

NovaGroup is the largest shareholder at Novaland and is also the company founded by Mr. Bui Thanh Nhon - Chairman of Novaland.

Besides NovaGroup, another major shareholder of Novaland, Diamond Properties JSC, also registered to sell more than 18.4 million NVL shares to balance its investment portfolio and support the restructuring of debts and other obligations. This transaction was carried out from May 9 to June 1, with the number of shares sold being more than 4.5 million NVL shares, reaching nearly 25% of the original plan. According to Diamond Properties, the reason for not completing the transaction was that the company changed the transaction time to match the company's debt restructuring support plan.

Source link: https://thanhnien.vn/novagroup-tiep-tuc-dang-ky-ban-hon-136-trieu-co-phieu-novaland-185230614114049953.htm