Phu Nhuan Jewellery to debut on Vietnam bourse Mar 23

12-Mar-2009 Intellasia | Dow Jones | 7:01 AM Print This Post

Phu Nhuan Jewellery Joint Stock Co., which is aiming to be Vietnam’s first listed jewellery firm on the local bourse, plans to list 30 million shares on the Ho Chi Minh Stock Exchange March 23, the bourse said Tuesday.

Phu Nhuan, which is based in HCM City and specialises in gold and jewellery products, has a registered capital of 300 billion dong (US$17.6 million), the bourse said in a statement.

Phu Nhuan shares, coded as PNJ.VH, will debut at 38,000 dong each and will be allowed to move up or down 20% on the first trading day.

The company made net profit of 122.13 billion dong on revenue of 3.5 trillion dong last year, the company said, giving no comparative figures for profit.

Phu Nhuan will become the 179th issue on Vietnam’s stock market, which currently has a market capitalisation of US$8.12 billion, down 20% so far this year.


Category: Stocks

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