Thien Long wants to give up publishing, bookstores, retail stores, and toys

The Board of Directors of Thien Long Group (TLG) has just announced the decision to change the investment portfolio structure at affiliated companies. This business said it has reviewed and re-evaluated the book publishing, retail and business-to-business (B2B) businesses to ensure compliance with TLG’s operating direction in the coming period.

In particular, Thien Long wants to dissolve Clever World Company. This is a business that operates the Clever Box chain of toy stores, gift accessories and stationery stores. This chain is associated with Ms. Tran Dinh Dinh – daughter of the Chairman of the Board of Directors Co Gia Tho.

Management once said that this store chain was initially launched to increase coverage and brand recognition of products, reducing dependence on intermediaries. Later, they opened the collectible toy brand Peektoy. However, Clever World did not record positive business results, many years of losses and high costs.

At the same time, Thien Long will also transfer all capital at Pega Holdings. The number of transfers is 4 million shares, equivalent to 40% of the capital in this enterprise. The target selling price is no less than 35 billion VND.

Peaga Holdings is a joint venture established in October 2022 with Pega Company, trading in books, newspapers, and magazines. This brand publishes books for two brands Zenbooks and Saigon Books with strengths in reference books, English learning, business, psychology, life skills, and medical knowledge. With Thien Long’s capital contribution, this joint venture also develops a line of coloring books and text books that are copyrighted and translated from world publishers.

Finally, TLG wants to restructure and divest capital from Phuong Nam Culture Joint Stock Company (Phuong Nam Bookstore – PNC). Through the major shareholder, Tan Luc Southern Company, they will establish a new company with 99.9% ownership. After that, Thien Long will transfer 49.49% of capital in Phuong Nam to this new company. Finally, Thien Long will look for partners to transfer all shares in the new company.

The target transfer price is expected to be no lower than 144 billion VND. According to assessment from the Board of Directors, this transfer option not only helps optimize financial benefits but also increases transaction flexibility, allowing partners to pay in multiple installments and expanding access to suitable investors.

TLG invested in PNC through its subsidiary Tan Luc Mien Nam from June 2025 to own 49.49% of the shares. At the same time, they sent many senior staff to run this bookstore chain. Phuong Nam has nearly 50 bookstores nationwide, most of which are located in prime locations in commercial centers, book streets and major tourist and shopping destinations of Ho Chi Minh City.

The board of directors at that time said that investing in PNC was one of the strategic steps in developing new product lines, especially the toy or lifestyle group (stylish consumer goods), which they had pursued over the years.

Thien Long Group was established in 1981, built by Mr. Co Gia Tho from a small factory into a leading enterprise in the pen and stationery industry. Thien Long is famous for its ballpoint pen product of the same name and other brands such as Flexoffice stationery, Bizner high-end pens or Colokit art tools.

This business has a product portfolio of thousands, focusing mainly on pens, office supplies, art supplies and student supplies. Thanks to their early participation in export, their products are present in over 70 countries and territories.

At the end of last year, Thien Long An Thinh Investment, the largest shareholder owning 46.82% of Thien Long Group’s capital (TLG), said it was in the process of negotiating with Kokuyo Group (Japan) to transfer all shares. Besides, Kokuyo plans to make a public offer to buy an additional 18.19% of TLG’s capital. If successful, their ownership ratio will reach 65.01% and make Thien Long a subsidiary.

At that time, the parties said Phuong Nam Bookstore and PEGA Holdings were not part of the deal.