Shares of Chairman Do Anh Tu’s company suddenly hit the floor, with no buyers: What is happening?

On March 20, ORS shares of Tien Phong Securities Company quickly dropped to the floor price of 12,300 VND/share with no buyers, trading volume reached 23.5 million shares. The decline began in early March after former chairman of Bamboo Capital, Nguyen Ho Nam, was prosecuted. Tien Phong Securities is involved with 22 bond lots worth 20 trillion VND from Bamboo Capital related companies. Recently, several bond lots were suspended from trading as required by authorities. ORS shares have decreased by over 21%, market capitalization has fallen by 1.1 trillion VND, now at its lowest since September 2024. The company is overseen by Chairman Do Anh Tu and other board members, with Bui Thi Thanh Tra serving as general director. Tien Phong Commercial Bank and TP Vietnam Investment Company are major shareholders of ORS.