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NovaGroup increases its ownership rate at NVL, strengthening its ecosystem
NovaGroup had increased its ownership stake in Novaland to over 37 per cent to be its largest shareholder.
Bui Thanh Nhon, chairman of NovaGroup and his wife, Cao Thi Ngoc Suong, have contributed capital to NovaGroup via NVL shares and officially become the indirect shareholders of Novaland via NovaGroup. This was approved in the General Meeting of Shareholders Resolution in April 2021.
The restructuring of ownership in the NovaGroup member system is part of the Group’s development strategy. In the coming time, the Board of Directors and Executive Board of NovaGroup will continue to lead and strengthen the human resources team as well as focus on developing products and services to create growth for Novaland and other corporations in the ecosystem.
“NovaGroup is well-known due to its business ecosystem, in which every affiliated corporation benefits from the others to create synergy to reach the global market. The entire conglomerate will always be dedicated and committed to the long-term strategy that NovaGroup and the Corporations have set for sustainable growth and better values for the community and society,” Hoang Thu Chau, general director of NovaGroup, shared.
NovaGroup’s robust ecosystem helps provide international standard products and services to the community, build megacities associated with local economic development, social security and new tourist destinations, and contribute to promote the national tourism development strategy.
From NovaGroup’s solid foundation, its member corporations have achieved several major breakthroughs in recent years, such as megacities of thousands of hectares, including Aqua City (Dong Nai), NovaWorld Phan Thiet (Binh Thuan), and NovaWorld Ho Tram (Ba Ria - Vung Ta), are under rapid construction with many services of NovaGroup being put into operation. More importantly, many of its products and services have made a good impression and are highly appreciated by customers and partners.
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