On October 22, Novaland Group Joint Stock Company (Novaland, stock code: NVL) announced that Mrs. Cao Thi Ngoc Suong, wife of Mr. Bui Thanh Nhon, Chairman of Novaland’s Board of Directors, has registered to sell over 17.27 million NVL shares for “personal needs.”
The transaction is expected to be executed via order matching or agreement from October 28, 2024, to October 26, 2025.
Prior to the transaction, Mrs. Suong held more than 50.52 million shares, equivalent to 2.47% of the company’s equity. If successful, her remaining shares will total 33.25 million units, or 1.62% of the charter capital.
Meanwhile, Mr. Bui Thanh Nhon currently owns 96.76 million NVL shares, representing 4.76% of the capital.
Novaland’s Phan Thiet Project
Notably, Mrs. Suong’s selling activity comes amid significant selling pressure on NVL shares following the Government Inspectorate’s conclusions regarding the company’s bond issuance. As of the morning of October 22, despite reduced selling pressure, NVL’s price remained below the reference level.
At 11:30 a.m. the same day, NVL’s price stood at VND 14,350 per share, valuing Mrs. Suong’s transaction at approximately VND 247 billion.
Earlier, Novaland received an investment policy decision and investment registration certificate from Lam Dong Provincial People’s Committee for the Ocean Valley Complex Tourism Project (NovaWorld Phan Thiet). Spanning over 986 hectares with an estimated investment of USD 5 billion, the project is led by Delta-Valley Binh Thuan Co., Ltd., a Novaland subsidiary.
Mrs. Bùi Thị Thúy Thúy Seeks to Offload Over 17 Million Novaland Shares Following Two Consecutive Limit-Down Sessions
Currently, Mrs. Suong holds nearly 50.5 million NVL shares. If the transaction is successful, her ownership stake in Novaland will decrease to 1.6%, equivalent to over 33.2 million shares.
Novaland Secures Landmark Approval for $5 Billion Phan Thiet Project
NovaWorld Phan Thiết stands as one of the largest integrated tourism and resort complexes in the region, boasting a total investment of $5 billion.
Novaland’s Critical Project Receives Landmark Decision
The People’s Committee of Lam Dong Province has reissued the investment policy for Novaland Group’s $5 billion mega real estate project, NovaWorld Phan Thiet.
Novaland Defers Nearly VND 95 Billion in Bond Principal Repayments
Novaland has deferred nearly VND 94.6 billion in principal payments for its NVLH2123003 bond issuance due to insufficient payment arrangements.
Novaland Shares in Turmoil as Government Inspectorate Hands Bond Violation Case to Police
At one point during the morning session, the sell orders for NVL stocks at the floor price reached a staggering 7 million units.
