Mr. Bui Cao Nhat Quan, son of Novaland Chairman Bui Thanh Nhon, successfully sold over 2.9 million NVL shares on May 19, 2025, reducing his ownership to 3.862%. This transaction reportedly raised about 35 billion VND. Previously, he was unable to sell 3.9 million shares due to unfavorable market conditions. Simultaneously, his mother and sister also planned to sell some shares. Novaland is set to issue shares to convert debt to support finances amid challenging business conditions. NVL shares have significantly decreased since early 2022, prompting large shareholders to sell to pay off debts. Novaland has proposed revenue and loss plans for 2025 but emphasizes that the progress in resolving legal issues is crucial for its business outcomes.
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