Dragon Capital spends over $37 million to double PNJ holdings
Dragon Capital spends over $37 million to double PNJ holdings
A group of funds run by Dragon Capital bought an additional 5.22 million PNJ shares to raise ownership to approximately 11.4 million shares, equivalent to 10.49 per cent.
The Ho Chi Minh City Stock Exchange (HSX) has just announced the changes of foreign ownership at Phu Nhuan Jewelry JSC (HoSE: PNJ). Particularly, a group of funds run by Dragon Capital, including Vietnam Enterprise Investments Ltd. (VEIL), Wareham Group Limited, Norges Bank, KB Vietnam Focus Balanced Fund, and Hanoi Investments Holdings Limited, has just spent over VND841 billion ($37 million) to buy 5.22 million PNJ shares.
According to HSX, PNJ’s revenue hit VND3.221 trillion ($141.6 million) in the fourth quarter of 2017. Accumulated revenue in 2017 hit VND10.976 trillion ($0.5 billion), up 28 per cent on-year, equivalent to 115 per cent of the yearly plan.
Up to the end of 2017, PNJ’s total amount hit VND335 billion ($14.7 million), rising VND180 billion ($8 million) compared to the beginning of the year. The value of inventory increased by VND564 billion ($24.8 million) to VND3.4 trillion ($150 million). The total value of property gained over VND900 billion ($40 million) to nearly VND4.5 trillion ($197.5 million).
Besides, PNJ has set aside VND395.3 billion ($17.4 million) for a long-term investment into 38.5 million shares of DongA Bank.
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