Ms. Bui Cao Ngoc Quynh, daughter of Mr. Bui Thanh Nhon – Chairman of the Board of Directors of No Va Real Estate Investment Group (Novaland), has sold 9.1 million NVL shares. Ms. Quynh carried out this transaction for personal reasons. The method of sale was by agreement, from May 9 to May 14. The “beloved daughter” of Mr. Bui Thanh Nhon has reduced her ownership of NVL shares from 24.6 million units (1.26% of capital) to 15.6 million units (0.79% of capital).
Also, on May 9, Novagroup – the largest shareholder of Novaland – sold 40,075 NVL shares, thereby reducing its ownership to 358.13 million units. Previously, this unit had registered to sell more than 9 million NVL shares.
Over the past two years, the ownership rate of Novaland by the group of shareholders related to Mr. Bui Thanh Nhon has decreased significantly, equivalent to more than 416 million shares being “slipped” away. In addition to the fact that the NovaGroup ecosystem itself used NVL shares as collateral for loans, and when the share price dropped significantly, it led to forced sales to recover securities companies’ loans. Mr. Nhon’s two companies, Novagroup and Diamond Properties, have had to proactively sell large amounts of NVL shares to restructure and support the group’s debt.
Since the beginning of the year, Novagroup and Diamond Properties have sold a total of nearly 30 million NVL shares to support this enterprise in restructuring its debt. After multiple divestments, the group of shareholders related to Mr. Bui Thanh Nhon, Chairman of the Board of Directors, now holds only about 39.5% of the shares in Novaland. Compared to a year ago, the total ownership rate of the Novaland Chairman’s family has decreased by about 12%.
On May 10, a Government working group led by Mr. Nguyen Thanh Nghi – Minister of Construction – worked with the provinces of Binh Duong, Tien Giang, and Dong Nai. Mr. Vo Tan Duc, Acting Chairman of the People’s Committee of Dong Nai province, along with leaders of related departments, received and worked with the delegation.
At the meeting with the Government delegation, Mr. Vo Tan Duc, Acting Chairman of the People’s Committee of Dong Nai province, proposed to the Government delegation to expedite the resolution of difficulties and obstacles in implementing projects in Sub-area C4, located in Long Hung commune and part of Tam Phuoc ward, Bien Hoa city, Dong Nai province.
Accordingly, Sub-area C4 under the master plan of Bien Hoa city has an area of about 1,500 hectares. In the past, investors have implemented urban and residential projects in this sub-area, such as the Long Hung Residential Area project, Dong Nai WaterFront Urban Area, Aqua City, and the high-class commercial and service urban area of Cu Lao Phuoc Hung…
However, at the time of approving the master plan and the sub-area plan C4, the detailed planning dossiers at the scale of 1/500 of the projects approved earlier were not fully updated, leading to inconsistencies and differences in planning at different levels. Due to these differences, many urban projects had to be temporarily halted in terms of construction and business activities.
It is known that Aqua City is one of Novaland’s key projects in recent years and in the future. With a scale of 1,000 hectares, Aqua City is introduced as integrating 15 utilities, including a school-yacht marina, a mansion of light, a theater, an indoor amusement park, a complex of entertainment and cuisine, a convention center, a sports center, a commercial center, a hospital, and an international school…
