On August 27, Thanh Vinh Business Development JSC sold over 2.5 million PNC shares, reducing its stake to zero. This sale accounted for 23.29% of PNC’s capital. A week prior, on August 20, Truong Phat Business Development JSC also offloaded nearly 2.7 million PNC shares, decreasing its ownership from 24.84% to zero. These transactions were made through negotiated deals, as indicated by VietstockFinance data, with the sale values matching the traded share volumes.
On the other hand, PNC welcomed a new major individual shareholder, Ms. Tran Thi Ngoc Bich, who acquired more than 542,000 PNC shares on August 20, representing 5.02% of the company’s capital. However, she later reduced her stake to 4.98% on August 26.
These shareholder changes occurred while PNC’s share price has been trading sideways at around VND 10,000 per share for the past two months. As of August 29, PNC’s closing price was VND 10,800 per share, reflecting a 20% increase since the beginning of the year.
| PNC Share Price Movement since the Beginning of 2024 |
PNC, formerly known as the 11th District Cultural and Service Business Company, was established in 1982 and primarily engages in cultural publishing and media. The company owns a network of bookstores, book cafes, and kiosks at airports, including the prominent Phuong Nam Bookstore chain.
In terms of financial performance, PNC reported a 16% year-on-year decline in revenue to VND 275 billion and a 69% drop in pre-tax profit to VND 4.3 billion for the first half of 2024. These results met 44% and 25% of the company’s annual targets, respectively. Net profit for the period stood below VND 4 billion, a 61% decrease and the lowest in the last three years, although it still marked an improvement compared to the losses incurred in 2021 and 2020.
| PNC’s Semi-annual Business Results since the Disclosure of Information |
