Property developer Novaland Group has denied rumors that its chairman Bui Thanh Nhon is on the verge of resigning.
Social media posts claiming that he has written a letter of resignation and quit the board of directors are “fabricated”, the company said in a statement Wednesday.
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Novaland chairman Bui Thanh Nhon speaks at an event in April 2024. Photo courtesy of the company |
The false information has caused misunderstanding among Novaland’s customers, shareholders and investors, it said.
The company’s business activities remain stable, there are no disruptions in the leadership team and Nhon continues to manage the company and direct its development, it added.
Novaland shares have been falling since Jan. 9, closing Tuesday at its lifetime lowest price of VND8,950 after losing 36% in the last year.
