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Thursday, April 25, 2024

Novagroup to offload 2.2 million NVL shares

The Saigon Times

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HCMC – NovaGroup JSC has registered to sell around 2.2 million NVL shares of No Va Land Investment Group Corporation (Novaland) between December 28 and January 10 to restructure its investment portfolio and debt.

After the share sale, NovaGroup will lower its stake in Novaland to nearly 19.5%, with 380 million NVL shares. This move follows NovaGroup’s sale of 20.7 million NVL shares out of a registered sale of 26.5 million shares.

Diamond Properties, the second-largest shareholder of Novaland, recently sold over 4.8 million NVL shares, reducing its stake to almost 9%, or 175.39 million shares.

Closing the trading session today, December 27, NVL edged down 0.59% to VND16,800, with a matching volume of 16.8 million shares.

The VN-Index of the Hochiminh Stock Exchange moved sideways with a slight dip of 0.02%, shedding 0.26 points to close at 1,121.99 points. The southern bourse saw 219 winners and 250 losers.

Stock trade improved 20.5% in volume and 31.2% in value over the previous session, with 776.8 million shares worth VND19.3 trillion changing hands.

The day’s liquidity was largely driven by block-deal transactions, notably in VHM. Block deals contributed 206.6 million shares valued at VND7.1 trillion to the overall value. VHM alone had 90.23 million shares transacted, with a total value of over VND4 trillion.

Several bank stocks were also actively traded in block deals, including EIB with 31.4 million shares, TCB with 8.48 million shares, VPB with 17.63 million shares, and MSN with 4.72 million shares.

Securities stock VND took the lead by liquidity on the HCMC exchange, with a trading volume of 21.4 million shares. It edged up 0.7% to VND22,000 per share.

On the Hanoi Stock Exchange, the HNX-Index closed down by 0.29% lower, or 0.66 point, to settle at 230.6 points.

The northern market got 81 stocks advancing and 75 others declining, with a total trading volume of 67 million shares and a value of VND1.2 trillion.

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