The Investigation Police Agency has sent a written request to several localities to suspend the transfer, purchase and sale of assets and shares under the ownership of former FLC Chairman Trinh Van Quyet and related persons.
Trịnh Thị Thúy Nga, the sister of former FLC Group CEO Trịnh Văn Quyết, has been arrested by the Police Investigation Agency in a stock market manipulation case.
Shares tumbled on Wednesday on both national stock exchanges, driven by massive selling in the afternoon session following the arrest of FLC chairman Trinh Van Quyet for stock manipulation on Tuesday.
Vu Dang Hai Yen, Deputy General Director of FLC Group, will replace Trinh Van Quyet as acting chairwoman of the Board of Directors at FLC and Bamboo Airways.
Recent property firm scandals have shaken the stock market, blowing tens of trillions of Vietnamese dong and making investors feel the pain of loss when the market was in free fall.
Bamboo Airways will not change its market share target in 2020 despite the COVID-19 pandemic, though the minimum fleet plan will be reduced from 50 to 40 aircraft.
New budget carrier Bamboo Airways plans to list 400 million shares on the Ho Chi Minh City Stock Exchange or Ha Noi Stock Exchange in January 2020 at the earliest.
Bamboo Airways, a subsidiary of real estate developer FLC Group, is planning to issue an initial public offering (IPO) in 2020 to serve its expansion plans, according to the news site Bloomberg.
The Viet Nam-US direct flight would not sustain losses if it has reasonable fares and a stable number of passengers, said Trinh Van Quyet, chairman of FLC Group and general director of Bamboo Airways.
Deputy Prime Minister Trinh Dinh Dung on Monday signed a decision to approve the establishment of Bamboo Airways, after receiving the proposal of the Ministry of Planning and Investment (MPI) and the consensus of relevant ministries.