FLC Faros Construction Joint Stock Company (stock code: ROS) has appointed 32-year-old Pham Tu Anh as the new Chairwoman, replacing Dao Danh Ngoc. Tu Anh has held various management positions within the FLC ecosystem and is the wife of Trinh Van Nam, a member of the FLC Group’s Board. Leadership changes are not expected to affect business direction. This year, the company has changed its chairman three times due to personal reasons. Previously, Le Tien Dung resigned and Do Manh Hung held the position for nine months. FLC Faros, part of former chairman Trinh Van Quyet’s ecosystem, saw its stock once skyrocket after listing, but has plummeted since 2018, especially after Quyet’s indictment, causing share prices to drop below 3,000 VND. Banks have halted credit extensions to the company, leading to significant financial strain, forcing FLC Faros to restructure debts and downsize operations. The company plans to issue 6 million shares priced not less than 10,000 VND each to raise capital for operations.
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