Travel, realty firm (NVT)  shares down despite director's buyback order

Shares of Ninh Van Bay Travel Real Estate JSC (HoSE: NVT) fell 1.7 per cent to VND8,850 (US$0.38) per share on Wednesday, despite the general director having offered to buy 25 million shares.

The company’s general director Hoang Anh Dung plans to increase his ownership in the business to 27.68 per cent from the current 0.05 per cent.

Transactions started on Wednesday and will last until October 17.

Recently, foreign investment fund Recapital Investment Ptd Ltd signed up to sell 21.72 million shares of the 32.46 million shares it has in the firm.

The shares will be sold between September 16 and October 25 to earn cash to settle other debts.

In the first half of the year, the travel and realty firm recorded a VND679 billion loss. The company's shares will remain on the Ho Chi Minh Stock Exchange’s warning list until the full financial report for 2019 is announced.

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