Phu Nhuan Jewelry (PNJ) faces stock decline and divestment from pawnshop venture

Phu Nhuan Jewelry Joint Stock Company (PNJ) has experienced a significant decline in market value, with its stock price dropping to a nearly decade-low level of 14,200 VND per share on November 9. Since the company's extraordinary general meeting on October 21, the stock price has fallen approximately 26%, resulting in a loss of about 2,560 billion VND in market capitalization within less than three weeks.

In a move to restructure its investment portfolio, PNJ's Board of Directors has approved a plan to divest its entire stake in An Tin Asset Solution Joint Stock Company. PNJ intends to transfer all 3.25 million shares, representing a 65% stake in An Tin, which operates in the pawnshop services sector. An Tin was established in March 2026 as part of PNJ's strategy to expand into new service areas, but the company is now seeking to exit the venture less than eight months after its founding. The specific transfer price, partner, and timeline have not yet been disclosed.