Dragon Capital-linked team lowers holding in Vietnam jewelry retailer
A group of funds affiliated with Dragon Capital, among the top foreign-run Vietnam-focused fund management firms, has lowered its combined holding in Phu Nhuan Jewelry JSC (HoSE: PNJ) to 5.9887% from the earlier 6%.

At a PNJ store. Photo courtesy of Dau Tu (Investment) newspaper.
Samsung Vietnam Securities Master Investment Trust [Equity] sold 40,000 shares of PNJ on September 19, cutting its ownership to 380,000 shares, Dragon Capital said in a filing to the Ho Chi Minh Stock Exchange.
As such, the combined holding of the group of shareholders slid to 20.04 million shares.
On July 15, Hanoi Investments Holdings Limited had unloaded 400,000 PNJ shares, cutting the group’s combined ownership to 6.91% or 23.13 million shares. Since then, the group has net sold 3.09 million PNJ shares, valued roughly at VND300 billion ($12.19 million).
PNJ shares were trading down 0.2% at VND99,100 ($4.03) apiece at 10 a.m.
Also on September 19, DC Developing Markets Strategies Public Limited Company, a fund affiliated with Dragon Capital, sold 500,000 shares of PetroVietnam Drilling & Well Services Corporation (HoSE: PVD). This transaction sent the combined holding of the group in PVD down to 4.92% or 27.35 million shares, from the earlier 5.01%.
Since the start of this year, the Dragon Capital-link group of shareholders has made six transactions of PVD shares.
Meanwhile, the group net sold 850,000 shares of real estate developer Dat Xanh Group JSC (HoSE: DXG) on September 20, cutting its holding in the latter to 10.96% or 78.99 million shares, from the earlier 11.08%.
The transaction was made only one week after the group bought 2.35 million DXG shares for nearly VND36 billion ($1.46 million).
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