Mr. Bui Cao Nhat Quan, the son of Novaland’s chairman, has registered to sell over 2.9 million NVL shares for personal reasons, set to occur from March 21 to April 18. Following the transaction, his ownership stake will decrease from 4% to 3.8%. Novaland is facing over 1,200 billion VND in debt from two bonds maturing in 2025, but the company lacks the funds to repay them. This financial situation has necessitated negotiations with investors. Meanwhile, NVL shares have shown signs of recovery, rising from 8,700 to 10,950 VND per share.
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