Novaland (NVL) Major Shareholders NovaGroup, Diamond Properties See Forced Share Sales

Overview

Two major shareholders of Novaland Investment Group Corporation (Novaland), NovaGroup and Diamond Properties, reported forced sales of over 1.2 million NVL shares by securities companies to enforce collateral. The transactions, executed via order matching between April 10-13, 2026, reduced each entity’s ownership stake by 0.04 percentage points. This occurs as the HOSE-listed real estate developer prepares for its 2026 AGM, which will consider capital-raising plans to address debt and operational targets.

Key Facts

• NovaGroup reported a forced sale of 760,956 NVL shares from April 10-13, 2026, reducing its stake from 491.8 million shares (22.01%) to 491.07 million shares (21.97%).
• Diamond Properties reported a forced sale of 426,135 NVL shares on April 13, 2026, reducing its stake from 170.46 million shares (7.62%) to 170.04 million shares (7.61%).
• Both entities are linked to Novaland Chairman Bùi Thành Nhơn.
• Novaland’s 2026 AGM is scheduled for April 23, 2026, at NovaWorld Phan Thiet Golf Club in Lâm Đồng province.
• The company targets 2026 revenue of VND 22,715 billion and net profit of VND 1,852 billion, representing a more than threefold increase in revenue and a 0.5% decrease in profit compared to 2025.
• Novaland has no dividend plan for 2025 or 2026.
• The board proposes adjusting a private placement plan from 350 million shares to a maximum of 800 million shares, to be executed in 2026.

What Happened

According to filings reported by the company, securities companies sold a total of 1,187,091 NVL shares on behalf of major shareholders NovaGroup and Diamond Properties to enforce collateral. NovaGroup’s sale of 760,956 shares occurred from April 10 to 13, 2026, while Diamond Properties’ sale of 426,135 shares took place on April 13, 2026. Both transactions were executed via the order-matching method on the exchange.

The article notes this continues a pattern of disposals. Previously, on March 20, 2026, NovaGroup had 31,069 NVL shares similarly sold. Diamond Properties also sold 930,800 NVL shares via order matching from March 17-19, 2026, out of a registered 2.15 million shares, citing a change of plans for not completing the full transaction. The filings were disclosed as part of regular reporting requirements for substantial shareholding changes.

Market Context

Novaland (NVL) shares trade on the Ho Chi Minh Stock Exchange (HOSE). The stock closed at VND 18,000 on April 15, 2026, up 2.63% on volume of 35.92 million shares. The real estate sector in Vietnam has faced liquidity and debt restructuring challenges, with Novaland actively working on capital and liability management plans, as reflected in its upcoming AGM agenda.

Strategic Significance

The forced sales highlight ongoing financial pressure on major shareholders linked to the company’s leadership, potentially affecting control dynamics. They occur alongside Novaland’s strategic pivot to raise capital through a significantly expanded private placement (up to 800 million shares) and a bond-to-share swap program, aimed at addressing debt and funding operations. The lack of dividends for 2025-2026 reinforces the focus on balance sheet repair over shareholder returns in the near term.

What to Watch

• Outcome of the 2026 AGM on April 23 regarding approval of the adjusted private placement and bond-to-share swap proposals.
• Execution and pricing of the private placement, which must not be lower than the 30-day average closing price after AGM approval.
• Further shareholding changes from NovaGroup, Diamond Properties, or other major investors.
• Achievement of the 2026 revenue target of VND 22,715 billion and net profit of VND 1,852 billion.
• Progress on securing investor consensus for the bond-to-share swap program.