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PNJ to sell entire stake in Que Huong Liberty

Released at: 11:35, 11/11/2014

PNJ to sell entire stake in Que Huong Liberty

The jeweller's BOD has approved plans to fully exit the company.

by Linh San

The Board of Directors (BoD) at Phu Nhuan Jewelry (PNJ) approved the transfer of its entire stake in the Que Huong Liberty JSC to another or other investors on November 4.

The BoD authorized Chairman Cao Thi Ngoc Dung to decide on the price and related matters. The transfer is expected to be conducted before the end of the year. According to PNJ's financial report, it holds more than 916,600 Que Huong Liberty shares, equal to 1 per cent of its charter capital.

Que Huong Liberty has denied rumors that it plans to sell the Pullman Hotel, which was invested by the Saigontourist Holding Company, the Saigon Que Huong Joint Stock Company, and Que Huong Liberty, and is managed by Accor.

Mr. Do Hoang Trang, General Director of Que Huong Liberty, said the rumors were false. The media had earlier reported that the Pullman Hotel was up for sale, just a few months after its official opening. Mr. Trang added that the company is calculating the impact the false information may have on its activities and seeking to address it.

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