On November 24, Novaland Investment Group (NVL) approved using 47.06% of shares from its subsidiary and 99.99% of shares from another subsidiary to invest in Mega House Limited Company. After this contribution, NVL’s total stake in Mega House is expected to rise from nearly 212 billion VND to 5.413 trillion VND, accounting for 99.9% of the company’s charter capital. NVL will no longer hold shares in An Phat and plans to transfer its entire stake in Mega House when suitable investors and market conditions arise, based on an independent valuation. Mega House, established in September 2013, currently has a charter capital of 215 billion VND, with NVL owning 98.6% of this capital. Novaland is a major investor in various large projects in Ho Chi Minh City and Dong Nai.
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