PNJ shares fell about 2% to VND 17,050 on October 27, near their lowest level in almost 10 years, and have not closed higher in any session since the extraordinary AGM on October 21, wiping more than VND 1,600 billion off its market capitalization. Chairwoman Cao Thi Ngoc Dung apologized to shareholders and said her family sold shares to fund the company's product exchange policy. Preliminary Q3 2026 results showed net revenue of about VND 6,995 billion, down 14%, and an after-tax loss of VND 258 billion. PNJ plans to set aside about VND 7,071 billion in provisions, which would bring its 2026 after-tax loss to about VND 6,271 billion, and aims to raise about VND 8,000 billion through a private placement of up to 550 million shares. SSI said the capital raise could ease short-term liquidity pressure but flagged risks of shareholder dilution and a slower profit recovery.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Cổ đông PNJ mất hơn 1.600 tỷ đồng sau lời xin lỗi của bà Cao Thị Ngọc Dung
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PNJearningscapital raisingVietnam
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Related tickers and likely impact
PNJ
▼ Likely negativePhu Nhuan Jewelry
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Retail |
| Industry | Specialty Retailers |
| Market cap | 8,776 bn VND |
| P/E | 3.6 |
| P/B | 0.65 |
| Close on 10/27/2026 | 17.05 |
| Change that session | -2.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- PNJ has not yet set the issue price for 550 million shares
At PNJ's extraordinary shareholders' meeting on 21 October, CEO Phan Quốc Công said the plan to issue up to 550 million additional shares has not been detailed yet, and the company needs to raise about 8,000 billion VND; 550 million is only a maximum. The issue price will be based on book value and the 30-session average price up to the decision date, and a higher share price would mean less dilution for existing shareholders. Existing shareholders cannot be offered shares because the company must honor buyback commitments for diamond jewelry worth about 21,000 billion VND, with a provision of about 7,000 billion VND that could push it into a loss above 6,000 billion VND in 2026, and loss-making firms cannot make public offerings to existing shareholders, so a private placement to funds and professional investors is the remaining route. Assuming 80% of customers redeem, buyback demand would be about 16,800 billion VND, and the CEO expects reconstruction to be completed around 2027 if funding is secured.
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PNJ shares fell 6.2% to VND 17,450 in the 23/10 session, touching a daily floor of VND 17,300, the lowest level in nearly a decade, with market capitalization now below VND 9,000 billion. At an extraordinary shareholders' meeting on 21/10, chairwoman Cao Thị Ngọc Dung apologized to shareholders and called it the most difficult period in nearly 40 years of the company's history. The meeting approved a private placement of up to 550 million shares to raise an estimated VND 8,000 billion and cut the 2026 plan to revenue of VND 39,057 billion (down 20%), with a projected profit of VND 3,409 billion turning into a loss of VND 6,271 billion, mainly due to a VND 7,071 billion provision. In Q3/2026, net profit was negative VND 258 billion, compared with VND 496 billion a year earlier. SSI said the capital raise could ease short-term liquidity pressure but flagged risks of shareholder dilution and rebuilding brand trust.
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