Leading jeweler invests in pawn shop chain
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PNJ has decided to invest in pawnshop chain Golden Friend, with the stipulation it cannot exceed 30 percent of the latter’s charter capital.
The Board of Directors of the Phu Nhuan Jewelry Joint Stock Company (PNJ) has entrusted PNJ CEO Le Tri Thong with deciding the value and timing of the investment.
The Golden Friend Joint Stock Company was founded in 2017 with a charter capital of VND1 billion, which was raised after six months to VND10 billion.
The company introduced itself as a strategic partner of PNJ. Golden Friend has 21 pawnshops, all of which are located inside PJN stores. It accepts expensive accessories made of gold, silver and diamond, and also luxury watches like Rolex, Hublot and Patek Philippe.
Questions & Answers
Q.What is the maximum stake PNJ can take in Golden Friend?
What is the maximum stake PNJ can take in Golden Friend?
PNJ's investment is capped, meaning it cannot exceed 30 percent of Golden Friend's charter capital. The CEO, Le Tri Thong, is responsible for deciding the specific value and timing of this investment.
Q.When was Golden Friend established and what was its initial capital?
When was Golden Friend established and what was its initial capital?
Golden Friend Joint Stock Company was founded in 2017 with an initial charter capital of VND1 billion. This capital was then raised to VND10 billion six months after its establishment.
Q.What types of items does Golden Friend accept at its pawn shops?
What types of items does Golden Friend accept at its pawn shops?
Golden Friend accepts expensive accessories, including those made of gold, silver, and diamond. They also take luxury watches from brands such as Rolex, Hublot, and Patek Philippe.
Q.Where are Golden Friend's pawn shops located?
Where are Golden Friend's pawn shops located?
All 21 of Golden Friend's pawn shops are located inside existing PNJ stores. Golden Friend has also introduced itself as a strategic partner of PNJ.
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