Nova Real Estate Investment Group (Novaland) has reported delays in the payment of nearly 209.6 billion VND in principal for two bond lots, specifically NVLH2123007 and NVLH2123003. For NVLH2123007, due for payment of 114.7 billion VND on April 22, 2025, Novaland has only paid back 622.1 million VND. For NVLH2123003, they need to pay 96.6 billion VND, but have only paid 1 billion VND so far. The company has delayed these payments due to a lack of funds and is negotiating with investors for repayment. Additionally, in a recent transaction, Novagroup (linked to the Chairman of Novaland) sold 2.5 million NVL shares, reducing its ownership stake to 17.373%. Bùi Cao Nhật Quân, the son of the Novaland Chairman, was unable to complete registered stock transactions due to unfavorable market conditions.
Leave a Reply