Novaland director Hoang Thu Chau has registered to sell 2.28 million shares of the company, which will reduce her stake in it by more than a third.
The deal, to be completed in between February 1 and March 2, is likely to fetch her VND32 billion ($1.36 million) based on the NVL share’s current market price.
The deal is set to reducer her stake in the company from 0.325% to 0.208%.
Chau is also the CEO of Novagroup, the biggest shareholder in Novaland with a 29.4% stake.
At Novaland she has held key positions such as head of accounting and deputy CEO before becoming a member of the board in 2016.
NVL has been trading at VND13,500-15,500 for the last four weeks.
In November stock brokerages forced NovaGroup chairman Bui Thanh Nhon’s wife to sell 29 million shares, reducing her stake by a third.
The share price did not rise even once over 24 sessions around that period.
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