Ngan Hiep Real Estate Joint Stock Company (Ngan Hiep), a subsidiary of Novaland (99.98% owned), has announced the completion of its acquisition of over 30 million shares of SEA (Vietnam Seafood Corporation – Seaprodex).
This transaction has elevated Ngan Hiep to a major shareholder in Seaprodex, with a 24.03% ownership stake. Prior to this, Ngan Hiep held no shares in SEA. Currently, SEA shares are trading at 40,500 VND per share, valuing Ngan Hiep’s investment at approximately 1,215 billion VND for its 24.03% stake.
Ngan Hiep is the developer of NovaWorld Ho Tram, specifically the Wonderland and Habana Island phases. These phases are progressing well, with over 200 units already handed over to customers and ongoing construction activities.
Seaprodex project located at the prime dual-frontage site of Dong Khoi – Ton Duc Thang.
A Novaland representative stated that Ngan Hiep’s investment is a long-term strategic move to diversify its ecosystem beyond its core real estate business. Novaland is actively seeking investment opportunities aligned with its business strategy, preparing for robust growth post-restructuring.
Novaland has substantially completed Phase 1 of its restructuring process, including key projects.
Simultaneously, Novaland announced the divestment of its entire stake in The Sun Avenue project through its subsidiary.
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