Novaland Major Shareholder Diamond Properties Sells 1.65M NVL Shares Amid 80% Rally
This Aveluro analysis covers NVL (Tập đoàn Đầu tư Địa ốc Nova (Novaland) có tiền thân là Công ty TNHH Thương mại Thành Nhơn, được thành lập năm 1992) in the Real Estate sector. The classified event type is stake change, with negative sentiment and a deterministic market-impact score of 3.5/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Follow this event and trade Vietnam stocks
Use the broker guide to compare Vietnam market access before acting on this news.
Aveluro may earn a commission from broker partners. Market data and broker availability can change; confirm access before opening an account.
Overview
Major shareholder Diamond Properties has sold 1.65 million shares of Novaland (NVL), reducing its ownership to 7.54% from a prior level. The transaction occurred on April 21-22, 2026, as NVL shares rallied nearly 80% over the preceding month and a half. Separately, Novaland announced changes in its legal representative and top management, including the appointment of Bui Cao Nhat Quan as Chairman.
Key Facts
- Diamond Properties sold 1.65 million NVL shares out of a planned 3 million, citing a change in plan for the incomplete portion.
- After the sale, Diamond Properties holds 168 million NVL shares, equivalent to 7.54% of the company.
- Based on the April 22 closing price of VND 18,750, the sale proceeds are approximately VND 31 billion.
- NVL stock surged nearly 80% from early March to late April 2026, reaching a near-3-year high of VND 20,500 before retreating.
- On May 20, 2026, NVL closed at VND 15,900, down 4.79% with volume of 48.4 million shares.
- Novaland changed its legal representative to CEO Duong Van Bac, replacing Bui Thanh Nhon.
- Bui Cao Nhat Quan was elected Chairman of the Board for the 2026-2031 term, succeeding Bui Thanh Nhon.
- Novaland targets 2026 net revenue of VND 22,715 billion (3.2x 2025) and net profit of VND 1,852 billion (flat YoY).
What Happened
Diamond Properties, a major shareholder in Novaland, disclosed the sale of 1.65 million NVL shares via matched orders on the HOSE exchange during the sessions of April 21 and 22, 2026. The original plan was to sell up to 3 million shares, but the company adjusted its plan, leaving 1.35 million shares unsold. The sale reduced Diamond Properties’ stake from an undisclosed prior level to 7.54%.
The transaction occurred as NVL shares experienced a strong recovery, gaining nearly 80% in about six weeks. Diamond Properties had previously registered to sell large blocks of NVL shares on multiple occasions but often failed to complete the sales, citing plan changes. For instance, in March 2026, it sold only 930,000 of 2.15 million registered shares, and in January-February 2026, a planned sale of over 2 million shares was not executed.
Concurrently, Novaland announced a change in its legal representative. CEO Duong Van Bac became the sole legal representative, replacing Bui Thanh Nhon. Additionally, the board elected Bui Cao Nhat Quan as Chairman for the 2026-2031 term, succeeding Bui Thanh Nhon. The company also established a Strategy-ESG Committee chaired by Bui Thanh Nhon.
Market Context
NVL shares have been highly volatile. After the April rally, the stock peaked at VND 20,500, a near-three-year high, but then corrected sharply, falling to around VND 15,000 by May 21. On May 20, NVL closed at VND 15,900, down 4.79% on heavy volume of 48.4 million shares. The stock remains well below its 2021 highs but has recovered from crisis lows. The real estate sector on HOSE has been mixed, with some developers benefiting from policy easing and project resumptions.
Strategic Significance
The insider sale by Diamond Properties, which is linked to the founding family (Bui Thanh Nhon is a manager at Diamond Properties), signals potential profit-taking at elevated prices. The concurrent leadership changes, with Bui Cao Nhat Quan taking the chairman role and Bui Thanh Nhon moving to head the Strategy-ESG Committee, suggest a generational transition and a focus on ESG and strategic planning. Novaland’s ambitious 2026 revenue target (VND 22,715 billion) and its large land bank (over 2,400 hectares) indicate a bet on a sustained recovery in Vietnam’s real estate market. However, the incomplete sales by Diamond Properties may reflect caution about the stock’s near-term upside.
What to Watch
- Further filings by Diamond Properties or other major shareholders regarding NVL share sales or purchases.
- Novaland’s Q2 2026 earnings report to assess progress toward its full-year revenue and profit targets.
- Updates on the company’s project pipeline and land bank monetization, particularly the estimated VND 470 trillion cumulative revenue potential through 2030.
- Any regulatory changes or policy shifts affecting the Vietnamese real estate sector.
- The performance of NVL shares relative to the VN-Index and peer real estate stocks.