NovaGroup general director plans to sell over 2 million Novaland shares
Hoang Thu Chau, NovaGroup's general director and Novaland board member, has registered to sell 2.28 million Novaland (NVL) shares from February 1 to March 2, citing personal reasons.

Hoang Thu Chau, NovaGroup's general director and Novaland board member. Photo courtesy of Novaland.
NovaGroup is currently the largest shareholder in Novaland, a leading property developer in Vietnam, with a 29.4% stake. If the transaction is successful, Chau will reduce her holdings in Novaland from more than 6.34 million units (0.325% of Novaland's charter capital) to nearly 4.06 million units (0.208%).
At par value, Chau's share sale transaction is worth about VND22.8 billion ($971,000). If calculated according to the closing price of NVL shares on the Ho Chi Minh Stock Exchange (HoSE) before the Lunar New Year holiday at VND14,050 ($0.6) per unit, she could earn about VND32 billion ($1.36 million).
Chau has held a number of important positions at Novaland since 2003, including chief accountant and deputy general director, before being appointed board member in 2016. Her main duties are strategic planning, operating activities and the strategic implementation of the general meeting of shareholders.
Between October 14 and November 11, NovaGroup bought 1.822 million NVL shares out of eight million shares registered. Between October 14 and November 3, Bui Cao Nhat Quan, son of NovaGroup chairman Bui Thanh Nhon, bought two million NVL shares, raising his holding at Novaland to 83.24 million shares, or 4.269% of its chartered capital.
Recently, Novaland’s board of directors approved a plan to issue shares to its bondholders. Under the plan, five bonds with a par value of $200,000, equivalent to more than VND23 billion owned by Citigroup Global, will be converted into shares at a price of VND85,000 ($3.43 now) per share.
The bonds were part of 1,500 convertible bonds issued on July 16, 2021 to international investors, arranged by the Bank of New York Mellon and Credit Suisse.
Citigroup Global invested $1 million in the bonds, receiving an annual coupon rate of 5.25%. The initial conversion price was VND135,700 per share, then adjusted to VND85,000 on January 19, 2022.
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