NovaGroup to purchase eight million Novaland shares

Aqua City eco-intelligent urban area is receiving its first residents

If the transaction is successful, NovaGroup's ownership rate in Novaland (HSX: NVL) will increase by more than 37 per cent.

The expected trading time starts from October 14. The purpose is to increase the ownership rate.

NovaGroup is currently the largest shareholder in Novaland with an ownership ratio of 37.02 per cent. If the purchase of an additional eight million shares of NVL is completed as planned, NovaGroup's ownership rate in Novaland will be over 37 per cent, equivalent to 729,830,010 shares.

On the same day, Bui Cao Nhat Quan, the son of chairman of NovaGroup's Board of Directors Bui Thanh Nhon, also registered to buy an additional two million shares of Novaland. If this transaction is successful, Quan will increase his shares to 83,242,008.

Recently, chairman Bui Thanh Nhon and his wife Cao Thi Ngoc Suong shifted to indirect ownership in Novaland as major shareholders via NovaGroup thanks to the equity swap of Novaland shares to NovaGroup instead of a public tender offer.

This transference was approved at Novaland's annual shareholders' meeting in 2021 in accordance with Resolution No.15/2021-NQ.DHDCD-NVL in April 2021. It also does not reduce their direct and indirect ownership rates of voting rights in Novaland.

This ownership shift is part of the restructuring process to synchronise with the NovaGroup’s ecosystem including eight member corporations: Novaland, Nova Service, Nova Consumer, Nova Tech, Nova Capital Partners, Nova Logistic, Nova Industry, and Nova Finance.

The business restructure was planned in advance, widely announced, and implemented via previous phases.

Continuing to increase NovaGroup's ownership in Novaland shows the commitment of NovaGroup as well as Nhon and his family, along with the board of directors, to continue to lead and strengthen the development of the group and other members within the group to ensure a better growth ecosystem, bring optimal efficiency to customers and investors, as well as contribute to the sustainable development of the community and society.

Driving M&A success amid the pandemic Businesses are facing down challenges to conclude a slew of deals with potential businesses in the midst of the global health crisis. Panellists at Vietnam M&A Forum 2021 shared some of their experiences and insights into conducting successful M&A deals during the COVID-19 pandemic.

Nova Medi provides advanced medical services to the community NovaGroup and the German Medical Association MediVerbund AG held the groundbreaking ceremony for the Nova Medi Healthcare Centre on February 27 at NovaWorld Phan Thiet in Binh Thuan province.

NovaGroup awarded Best Workplace in Asia 2022 by HR Asia Magazine On August 11, NovaGroup was honoured to receive the Best Companies to Work for in Asia 2022 award voted by HR Asia. Previously, Novaland also won this award for three consecutive years (2019-2021).

NovaGroup celebrates three decades with huge incentives for investors Exclusive products with discounts of up to 5 per cent, check-in gifts worth up to $4,300, and a commitment programme to buy and lease back and flexible financial solutions are some of the great incentives that Novaland is offering to its customers on the occasion of the Group’s 30th anniversary, motivating investors to delve into resort property.

DEG Impulse and NovaGroup start project for underprivileged students NovaGroup and DEG Impulse, a subsidiary of DEG, the German Development Finance Institution, on September 26, announced the project “Teaching English and Informatics for Free for Primary School Students” in Binh Thuan and Dong Thap provinces.

DEG Impulse and NovaGroup education project rolls out in Dong Thap The project 'Teaching English and Informatics for Free for Primary School Students' by DEG Impulse and NovaGroup continued in Hong Ngu commune of Dong Thap province on October 3.