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Friday, July 19, 2024

NovaGroup to sell 30 million NVL shares

The Saigon Times

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HCMC – Novagroup JSC, the largest shareholder of No Va Land Investment Group Corporation (Novaland, ticker NVL), has announced to sell 30 million NVL shares from March 30 to April 28 to balance its investment portfolio and restructure debt.

The announcement came after NVL shares rebounded strongly in recent trading sessions thanks to Novaland’s deferral of two bond lots worth a combined value of more than VND1.75 trillion.

If the transaction goes as planned, NovaGroup’s stake in Novaland would drop to 27.43%.

NVL closed the trading session today at VND12,600, a fractional 0.79% lower than the previous session, and reported a matching volume of over 30.7 million. At this price, the transaction is expected to bring NovaGroup around VND380 billion.

With 201 winners and 185 losers, the benchmark VN-Index of the Hochiminh Stock Exchange extended its winning streak for the sixth session, gaining 2.04 points, or 0.19% higher than yesterday’s session, at 1,054.29.

Trade on the southern stock exchange amounted to nearly VND11.2 trillion with 648.1 million shares changing hands, up 16% in volume and 15% in value against the session earlier. Around 65 million shares traded in block deals contributed nearly VND1.5 trillion to the overall value.

Lender VPB took the lead by liquidity today with a matching volume of more than 37.1 million.

The Hanoi exchange saw 79 stocks rising and 75 others dipping. The HNX-Index lost 0.91 points, or a fractional 0.44%, versus the previous session at 205.76, with nearly 69.1 million shares valued at around VND980.4 billion traded.

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