FLC shares are still suspended from trading.

FLC Group has been facing many storms since Mr. Trinh Van Quyet was arrested for stock manipulation.

Mr. Do Van Tam - Deputy General Director of Hanoi Stock Exchange - just announced the above information on the evening of May 23.

Based on the audited 2022 financial report (submitted 45 days later than the regulation), Hanoi Stock Exchange officially put FLC shares under restricted trading from May 25 and can only be traded on the last session of the week (Friday).

At an extraordinary meeting held earlier this year, FLC Group said the company has more than 64,700 shareholders.

Previously, in order to protect investors' interests, the Ho Chi Minh City Stock Exchange (HoSE) decided to delist nearly 710 million shares of FLC Group on HoSE from February 20.

Next, the Vietnam Securities Depository transferred FLC stock registration and depository data to the UPCoM market from February 22. However, from March 3, the Hanoi Stock Exchange suspended trading of this stock.

The reason given at the time of delisting on HoSE and then suspension of trading was that although it was already 2023, the company had not yet announced the 2021 audited financial statements and the 2022 semi-annual audited financial statements, and could not organize the 2022 general meeting of shareholders.

In another development, at the extraordinary shareholders' meeting held earlier this year, a representative of FLC Group said it would sell shares of Bamboo Airways to restructure debt.

Meanwhile, in early May, National Citizen Commercial Joint Stock Bank also announced to consult shareholders on the plan to transfer 203 million shares of Bamboo Airways, which had been mortgaged as collateral for loans from FLC Group at this bank.

After Mr. Trinh Van Quyet - former Chairman of the Board of Directors of FLC Group - was arrested to investigate stock manipulation, not only FLC but also the business operations of a series of other companies in the ecosystem were also shaken.

Due to information disclosure violations, all other stocks of the "FLC family" were also fined on the stock exchange, including: ROS (FLC Faros Construction), HAI (HAI Agricultural Chemicals) and ART (BOS Securities), AMD (FLC Stone Investment and Minerals), GAB (FLC Mining Investment and Asset Management) and KLF (CFS Trade Investment and Import-Export).

According to Tuoi Tre