A securities firm sold 2.94 million PNJ shares held by Tran Phuong Ngoc Giao in a forced liquidation on October 8, according to a transaction disclosure cited by VnExpress. Her holding fell from 14.64 million to 11.7 million shares, equivalent to 2.29% of the company's capital. Giao is the daughter of PNJ chairwoman Cao Thi Ngoc Dung. The disclosure did not identify the actual selling price or the specific trigger for the liquidation.