PNJ Chairman’s Daughter Cuts Stake to 0.99%
A securities firm sold shares held by Trần Phương Ngọc Giao, daughter of PNJ’s chairwoman, for a third time on November 12, reducing her stake to 0.99%. More than 6.6 million of her shares have been sold across the three forced sales. PNJ’s board has also approved a plan to sell its entire stake in An Tín.
PNJ (CTCP Vàng bạc Đá quý Phú Nhuận) disclosed that on November 12, a securities firm sold nearly 2.5 million PNJ shares held by Trần Phương Ngọc Giao, daughter of chairwoman Cao Thị Ngọc Dung, in a forced sale through order matching. After the transaction, her holding fell from nearly 7.5 million shares, or 1.47% of charter capital, to more than 5 million shares, or 0.99%.
This was the third forced sale of her PNJ shares in less than two weeks. The securities firm previously sold 1.84 million of her shares on October 30 and 2.32 million on November 4. More than 6.6 million shares were sold across the three transactions. Cao Thị Ngọc Dung currently holds 15.02 million shares, or 2.93% of charter capital. Her other daughter, PNJ vice chairwoman Trần Phương Ngọc Thảo, holds more than 11 million shares, or 2.15%. Together, the three hold approximately 31.12 million shares, or 6.08%.
A PNJ store. Photo courtesy of PNJ.（VietVance）
PNJ’s board has also recently approved a plan to sell its entire stake in CTCP Giải pháp Tài sản An Tín. The investment comprises 3.25 million shares, representing 65% of that company’s charter capital.
On personnel matters, PNJ said on November 5 that it had received the resignation of senior finance director Nguyễn Minh Hải for personal reasons. The board approved his resignation, effective November 17. He will also step down as a member of the Members’ Council at subsidiary CAF at that time. PNJ had previously received the resignation of board member Đào Trung Kiên. PNJ shares closed on November 13 at VND 14,950 each, giving the company a market capitalization of approximately VND 7.65 trillion.
Source: VietVance
