Novaland shares up over 50%, major shareholders plan to sell 18.7 million shares, assert ‘no rush to exit’

NovaGroup, a major shareholder of Novaland, has registered to sell 3,936,650 NVL shares to rebalance their investment portfolio and manage debt. Another major shareholder, Diamond Properties, also plans to sell 3,230,517 NVL shares for similar reasons. This move is part of a financial support plan for Novaland to settle debts. Three internal shareholders are set to sell a total of 11,586,476 shares for personal reasons, reducing their ownership to 6.818%. Novaland’s leadership has stated that these sales are not indicative of a rush to exit but rather efforts to restructure debt. NVL shares have increased over 50% from last month’s low, reaching 12,450 VND per share. Novaland is addressing its loans and aiming to deliver 1,546 products in 2025, while also accelerating progress on key projects like Aqua City and NovaWorld.