Bui Cao Nhat Quan, the son of Novaland’s Chairman Bui Thanh Nhon, has registered to sell over 2.9 million NVL shares, equivalent to about 0.15% of the charter capital, from March 21 to April 18 for personal reasons. After the transaction, Quan’s ownership ratio will decrease from 4% to 3.8%. With the increasing stock price, it is estimated that he could earn about 30 billion VND. Meanwhile, Novaland announced difficulties in repaying 2 bond lots, with a total value of principal and interest exceeding 1.2 trillion VND, due to an inability to arrange financial sources. A subsidiary of Novaland is also facing similar difficulties in failing to pay nearly 450 billion VND in principal.
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