NovaGroup to offload 43 million NVL shares

August 17, 2023

HCMC – NovaGroup JSC has registered to sell around 43 million Novaland (NVL) shares between August 18 and September 15 to restructure its investment portfolio and debt. After the share sale, NovaGroup will lower its stake in Novaland from 23.157% to 20.952%, with 408.59 million NVL shares. This move follows NovaGroup’s sale of 83 million NVL shares out of a registered sale of 136 million shares. Meanwhile, Diamond Properties, the second-largest Novaland shareholder, recently sold over 4.8 million NVL shares, reducing its stake to 9.599%, or 187.2 million shares. VPB improved by 1.8% to VND22,400 per share and TCB by 3.7% to VND35,300 per share, with a trading volume of 39.6 million shares and 13.2 million shares, respectively.

The source of this news is from The Saigon Times