Novagroup to offload 2.2 million NVL shares

December 27, 2023

HCMC – NovaGroup JSC has registered to sell around 2.2 million NVL shares of No Va Land Investment Group Corporation (Novaland) between December 28 and January 10 to restructure its investment portfolio and debt. After the share sale, NovaGroup will lower its stake in Novaland to nearly 19.5%, with 380 million NVL shares. This move follows NovaGroup’s sale of 20.7 million NVL shares out of a registered sale of 26.5 million shares. Diamond Properties, the second-largest shareholder of Novaland, recently sold over 4.8 million NVL shares, reducing its stake to almost 9%, or 175.39 million shares. Several bank stocks were also actively traded in block deals, including EIB with 31.4 million shares, TCB with 8.48 million shares, VPB with 17.63 million shares, and MSN with 4.72 million shares.

The source of this news is from The Saigon Times