VinaCapital Reduces PNJ Stake Below 5%
Investment funds under VinaCapital have sold approximately 1.24% of their stake in Phu Nhuan Jewelry Joint Stock Company (PNJ), bringing their total ownership below 5%. This divestment follows a sharp stock price decline after a diamond smuggling scandal involving a subsidiary, P-Lab. Market analysts view restoring confidence in PNJ's corporate governance as a key challenge ahead.
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