Vietnam Infrastructure Regulatory News (VNI)

5 Jul 2007 08:01

Vietnam Infrastructure Limited05 July 2007 Vietnam Infrastructure Limited admitted to trading on AIM 5 July 2007 - Vietnam Infrastructure Limited (the "Company"), a US$402 million,closed-end fund dedicated to investment in Vietnam's rapidly growinginfrastructure sector, is pleased to announce that it has today been admitted totrading on the AIM market of the London Stock Exchange plc under the symbol "VNI". It is the first AIM traded fund to focus investment on key strategicinfrastructure assets in Vietnam, including the energy, transport, water andtelecommunications sectors. The Company's investment manager is VinaCapital Investment Management Ltd("VinaCapital"), a leading investment company in Vietnam. Overwhelming demand from investors resulted in the proposed offering beingapproximately 4 times oversubscribed. The Company increased the offering andraised US$402,100,000 in gross proceeds through a placing of 402,100,000ordinary shares at US$1.00 per share, giving it a market capitalization ofapproximately US$402 million at admission. "The tremendous response to our offering speaks not only to strong demand forinfrastructure investments, but also to the outstanding results that our otherVietnam funds have achieved," said Don Lam, CEO and Co-Founder of VinaCapital."We look forward to furthering our investment in Vietnam's economic and socialprogress through Vietnam Infrastructure Limited." Over the last ten years, Vietnam's economy has grown at an average annual rateof 7.5% while the country's population has also continued to grow rapidly.However, investment in Vietnam's infrastructure to date has failed to keep pacewith these changes, creating significant opportunities for investment in thesector. "Between now and 2020, Vietnam's infrastructure is projected to requireinvestment of US$140 billion," remarked William Lean, Managing Director ofVinaCapital. "With the launch of this fund, we will leverage the expertise andrelationships of the VinaCapital team to assemble a first-rate portfolio ofinfrastructure investments. Our focus will be on strategic projects with strongunderlying economic demand in Ho Chi Minh City, Hanoi and other key regions inVietnam. We are currently reviewing an attractive pipeline of projectsincluding highways, bridges, airports, power plants and telecommunications. Weare also anticipating immediate investment opportunities, promising steady cashflows, from the equitisation of state-owned infrastructure assets." --ENDS-- Enquiries: VinaCapital Investment Management LimitedWilliam Lean/ Chi Nguyen Tel: + 84 8 821 9930 Grant Thornton Corporate Finance (Nominated Adviser)Philip Secrett/Maureen Tai Tel: +44 020 7383 5100 LCF Edmond de Rothschild Securities Limited (Broker/Market Maker)Claire Heathfield/Hiroshi Funaki Tel: +44 020 7845 5960 Finsbury GroupSimon Moyse/Brian Cattell Tel: +44 020 7251 3801 Notes to Editors: About VinaCapital Group VinaCapital Group is a leading investment bank and fund management company withunrivalled experience in the emerging market of Vietnam. The firm leverages thisexperience and its strategic relationships to create and deliver investmentproducts, strategic financing, and merger and acquisition services. VinaCapitalcurrently manages more than US$1.9 billion in assets and employs more than 130investment professionals, with offices in Ho Chi Minh City, Hanoi, Da Nang, andHong Kong. In addition to Vietnam Infrastructure Limited, VinaCapital manages three otherfunds: • Vietnam Opportunity Fund Limited (VOF.L), a US$891 million closed-end fund investing in traded equity, private equity and real estate. Launched on the AIM Market of the London Stock Exchange plc in September 2003 with US$10 million, it completed its sixth round of fundraising in late 2006. • VinaLand Limited (VNL.L), a US$776 million AIM-traded real estate fund launched in March 2006. It recently completed a second round of fundraising, which was more than two times oversubscribed. • DFJ VinaCapital LP, a US$50 million venture capital partnership focusing on Vietnam's technology sector. Additional information may be found at www.vinacapital.com. This information is provided by RNS The company news service from the London Stock Exchange