After major shareholder changes, PNC stock price hits nearly 3-year peak

After major shareholder changes, PNC stock price hits nearly 3-year peak

After major shareholder changes, Phuong Nam Cultural Joint Stock Company's shares went through 14 consecutive sessions without falling, bringing PNC's market price from VND 10,400 to VND 12,600, establishing the peak since January 2022 to present.

Shares of Phuong Nam Cultural Joint Stock Company (stock code: PNC) closed the trading session on September 24 at VND12,600, increasing to the maximum range compared to the reference and closing with no sellers. This stock continued its streak of 14 consecutive sessions without decreasing points, reaching the highest price in nearly 3 years.

The market price is on the rise but the trading volume of PNC is insignificant. Specifically, on September 24, this code only recorded 1,300 shares changing hands, with a transaction value of only 16 million VND, while in the previous 3 sessions, no shares were successfully traded.

Compared to the price range at the beginning of the year (VND9,000), PNC has increased by 40%. With more than 11 million listed shares, the market capitalization of this enterprise has reached VND136 billion.

PNC's market price hit a new peak after Phuong Nam bookstore chain experienced a major shareholder change. Specifically, on August 20, Truong Phat Business Development Joint Stock Company divested all of its more than 2.68 million shares (24.84% of capital) in this enterprise .

A few days later, Thanh Vinh Business Development Joint Stock Company also sold all of its more than 2.51 million PNC shares (23.19% of capital) and left its position as a major shareholder after nearly 8 years (since September 2016).

At the same time Thanh Vinh Business Development divested, Ms. Tran Thi Ngoc Bich sold 4,000 PNC shares, reducing her ownership ratio from 5.02% to 4.98% and was no longer a major shareholder after only one week of holding.

Currently, apart from Liksin Printing and Packaging Industry Corporation with a 15.38% ownership ratio (1.66 million shares), the owner of Phuong Nam bookstore chain has not had any new major shareholders.

In the first half of the year, PNC recorded net revenue of VND275 billion, down 16.4% year-on-year. The company reported pre-tax profit of more than VND4.3 billion and after-tax profit of nearly VND3.8 billion in the first 6 months of this year, down 68.6% and 60.4% year-on-year, respectively.

This year, PNC targets net revenue of VND625 billion, down 4.3% compared to 2023. Pre-tax profit of VND17 billion, down 26.6% over the same period. The company plans to pay dividends in 2024 at a rate of 5%. After half a year, PNC has completed 44% of the revenue plan and 25.3% of the profit target.

As of the end of the second quarter of 2024, the company's total assets were over VND 563 billion, an increase of VND 35 billion compared to the beginning of the period. Liabilities were over VND 377 billion, an increase of VND 32 billion compared to the beginning of the year. Short-term debt accounted for the majority of the company's debt structure with over VND 376 billion. Owner's equity was over VND 186 billion, undistributed profit after tax reached VND 51.5 billion.

Source: https://baodautu.vn/sau-bien-dong-co-dong-lon-thi-gia-co-phieu-pnc-lap-dinh-gan-3-nam-d225815.html