FLC Group chairman becomes second dollar billionaire

Friday, Oct 28, 2016 11:32

Trinh Van Quyet

HA NOI (Biz Hub) — Trinh Van Quyet, chairman of FLC Group's management board, has become the second dollar billionaire in Viet Nam's stock market, with total assets of over VND22.6 trillion (US$1.01 billion).

He follows Pham Nhat Vuong, chairman of Vingroup.

The continuous increase of Faros Construction (ROS) share on the stock market made the value of Quyet's assets surge rapidly.

He is the largest shareholder at Faros, holding 65 per cent of the company's capital.

He holds 279.56 million ROS shares. At 2.20pm on Thursday, the ROS hit VND79,100 per share, increasing his asset value by VND2.1 billion.

In addition, the chairman has more than 93 million FLC shares at a price of more than VND6,000 per share, making the total value of his shares VND562 billion.

Chairman of the HCM Securities Exchange (HOSE) Tran Dac Sinh honoured Quyet for his personal and for FLC Group's contribution to the stock market.

"FLC has been one of 30 companies with the largest scale and liquidity in the market thanks to Quyet's leadership," Sinh said.

He added that over the past 16 years, HOSE has seen remarkable progress along with Viet Nam's stock market growth. The progress has been attributed to several firms, including FLC.

"FLC has been one of the shares with high average transactions on HOSE. It has also been a dynamic firm which has attracted significant attention from primary and secondary investors," he added.

Quyet said what was important was that people recognised FLC's contribution to the market.

FLC shares were officially listed on HOSE on August 6, 2013. FLC is considered one of the largest estate developers in Viet Nam, with several five-star resorts in Ha Noi, Thanh Hoa and Quy Nhon. — VNS

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