T. Rowe Price increases PNJ stake to 6% following diamond investigation

T. Rowe Price Associates, Inc. has significantly increased its stake in Phu Nhuan Jewelry Joint Stock Company (PNJ). Following transactions on August 19, 2026, the group of funds associated with T. Rowe Price purchased approximately 4.85 million shares, raising their total ownership from 5.07% to 6.02% of PNJ's charter capital.

The increased investment follows the conclusion of an investigation regarding 28,000 diamonds. While authorities identified a smuggling scheme involving a PNJ-LAB director and certain individuals, the investigation determined that the diamonds in question were sold to private individuals and were not part of PNJ's retail system. PNJ was found to have complete documentation and legal proof of origin for the diamonds within its official inventory, confirming that its import and distribution processes comply with legal regulations.