6 Jul 2007 10:36
Vietnam Infrastructure Limited06 July 2007 July 6, 2007 VIETNAM INFRASTRUCTURE LIMITED Vietnam Infrastructure Limited Announces First Investment in Tan Tao Industrial Park Corporation (ITACO) Vietnam Infrastructure Limited ("VNI") the investment company admitted totrading on the AIM market of the London Stock Exchange, is pleased to announcethat it has successfully completed its first investment. VNI has purchased a 3.8per cent. interest in Tan Tao Industrial Park Corporation ("ITACO"), which islisted on the Ho Chi Minh City Securities Trading Center. VNI has purchased a block of 2.5 million shares in ITACO for a total value ofUS$14.06 million. The offered price of VND 90,000 is at a 27 per cent. discountcompared to the market price of the Company, as at 5 July 2007. ITACO is engaged in infrastructure investment and the provision ofinfrastructure services for industrial zones. It owns a variety of industrialparks in key growth regions surrounding Ho Chi Minh City, including the443-hectare Tan Tao Industrial Park in Binh Tan district, the 535-hectare TanDuc Industrial Park in Long An Province, the 348-hectare Tan Duc Residentialarea in Long An Province and the 100-hectare Tan Tao residential area in BinhTan. The company has also received approval to develop infrastructure projects inLong An province, including a 70km highway from Tan Son Nhat Airport to thecentre of Long An, a 300MW thermal power plant and a water plant to supply thecentral Long An region and its surrounding residential areas and industrialparks. ITACO is one of the 10 largest companies by market capitalization on the HCMCStock Exchange and its share price has consistently outperformed the VN index. William Lean, Managing Director of VinaCapital commented on the investment: "We are delighted to announce our first investment as an AIM traded company.Tan Tao Industrial Park Corporation is a vital link in the ongoing developmentof Vietnam's industrial zones and it is one of the key corporates in Vietnamcontributing to the country's rapidly growing infrastructure sector." About Vietnam Infrastructure Limited Vietnam Infrastructure Limited (AIM: VNI) is a US$402 million, closed-endinfrastructure and infrastructure related investment company admitted to tradingon the AIM market of the London Stock Exchange plc. Admitted to trading in July2007, the company focuses on key strategic sectors with underlying economicdemand within Vietnam's emerging infrastructure market, namely energy,transport, telecommunications and water utilities. Vietnam InfrastructureLimited is managed by VinaCapital Investment Management Limited ("VinaCapital"),a fund management and advisory business operating out of offices in Ho Chi MinhCity, Hanoi and Danang. For further information, please contact: Ms. Chi NguyenVinaCapital Investment Management Limited, Investor RelationsPhone: +84 8 821 9930 Philip Secrett/Maureen TaiGrant Thornton Corporate Finance, Nominated AdviserPhone: +44 (0)207 383 5100 Hiroshi FunakiLCF Edmond de Rothschild SecuritiesPhone: +44 20 7845 5960funds@lcfr.co.uk Brian Cattell/Talia DrukerFinsbury GroupPhone: +44 (0)20 7251 3801 This information is provided by RNS The company news service from the London Stock Exchange