Phu Nhuan Jewelry to sell 15 mln shares via private placement

Khanh Minh Monday | 02/21/2022 14:39

A PNJ store in Ho Chi Minh City. Photo courtesy of PNJ.

Vietnam’s leading jewelry maker plan to issue 15 million shares at VND95,000 ($4.17) apiece, according to exchange filing.

The amount is equivalent to 6.6 percent of shares. With the shares to be issued, the company’s charter capital is expected to increase to VND2,426 billion from VND2,276 billion.

The shares will be restricted from transferring in 3 years for strategic investors and one year for other investors.

The capital will be used for production expansion for higher production capacity and upgrading production technology as well as expanding the market. Among the amount of shares, PNJ will issue 7.35 million pieces to foreign investors, equivalent to 49% of the total number of additional shares.

PNJ stock is currently trading around VND106,000 per share, up 14.5% in the past month.

In 2021, PNJ's net revenue increased 12% to VND19,593 billion, fulfilling 93% of the year plan. Gross profit margin is 18.2%, lower than 19.6% in 2020.

After-tax profit was VND1,037 billion, down by nearly 4%, completing 84% of the whole-year target.

► Phu Nhuan Jewelry to pay 2021 first dividend at VND600 per share