According to Novaland Group’s (stock code: NVL) financial report for Q3, the company recorded a net revenue of 1,683 billion VND and a post-tax loss of 1,153 billion VND, accumulating a total loss of 1,820 billion VND over 9 months. The short-term debt of Bui Cao Nhat Quan, son of Bui Thanh Nhon, is noted at 76 billion VND in the financial report, having shifted from long-term to short-term status, recorded since 2020. Quan owns over 75 million NVL shares. Additionally, it was revealed that Mr. Nhon’s family has conducted transactions worth over 435 billion VND with NVL, and his wife, Cao Thi Ngoc Suong, is planning to sell more than 17 million NVL shares, potentially generating approximately 250 billion VND. Successful stock sales would reduce the family’s ownership to 34.9%, losing their veto power at Novaland.
Leave a Reply