Chairman Do Anh Tu resigns, Tien Phong Securities shares sold off

Today (March 21), ORS shares of Tien Phong Securities Joint Stock Company (TPS) were sold off strongly at the floor price right from the beginning of the trading session, down to 11,450 VND. The number of sell orders is increasing. This is the second consecutive session that this stock has been sold off by investors at the floor price. On the same day, the company announced that it had received a resignation letter from Mr. Do Anh Tu, Chairman of the Board of Directors, who requested to resign from his position and also from the Board of Directors (BOD) for personal reasons. The letter was written by Mr. Do Anh Tu on March 18. On the same day, Mr. Do Anh Tu also submitted a resignation letter from the Board of Directors of Tien Phong Commercial Joint Stock Bank (TPBank) for personal reasons.

Chủ tịch Đỗ Anh Tú từ nhiệm, cổ phiếu chứng khoán Tiên Phong bị bán tháo- Ảnh 1. — ORS shares of Tien Phong Securities Company were continuously sold off after Chairman Do Anh Tu resigned.

Yesterday, March 20, ORS shares ended the session with more than 24.66 million units traded, 3 times the average volume of the last 10 sessions. Today, more than 19 million units were also traded, but throughout the session, a large volume of shares were still placed for sale at the floor price but the buying side was empty. This shows that investors are still competing to sell off their stocks.

Mr. Do Anh Tu's resignation letter clearly stated: "Now, for personal reasons, I am writing this letter to request to resign from the TPS Board of Directors for the 2021-2026 term from March 18, 2025. Accordingly, from March 18, 2025, I give up exercising the rights and obligations of a member of the Board of Directors according to the provisions of law and internal regulations of TPS; I pledge not to intervene, not to have any complaints or lawsuits related to these contents".

Tien Phong Securities Company is known to be the focal point for arranging 22 bond lots of enterprises related to Bamboo Capital Group with a total value of 20,000 billion VND in the period of 2019 - 2022. Recently, from March 20, Hanoi Stock Exchange announced the temporary suspension of trading for 1 bond lot of Tracodi Construction Group Joint Stock Company. (stock code TCD) and 2 lots of Gia Khang Investment, Trade and Service Joint Stock Company. These two enterprises are related to Bamboo Capital Group.