17 Aug 2012 14:04
17 August 2012
Vietnam Infrastructure Limited
VNI's stake in Vina CPK Limited increases to 97.2 percent due to capital injection
Vietnam Infrastructure Limited (the "Company" or "VNI"), the first publicly traded fund to focus on infrastructure assets in Vietnam, today announces that the Company has injected USD5.0 million cash into Vina CPK Limited, increasing the subsidiary's total charter capital. Local partner, CPK Vinh Phuc JSC did not participate in this capital injection and as a result its stake in Vina CPK Limited has been diluted to 2.8 percent, while VNI's stake has increased to 97.2 percent from 96.1 percent, previously.
Vina CPK Limited primarily develops the 308 ha Ba Thien 2 industrial park project in the Vinh Phuc province, located 20 kilometers from Hanoi's Noi Bai airport and 45 kilometers from central Hanoi. During the first half of 2012, the company has accelerated land compensation and infrastructure construction. The sales and marketing strategy for Ba Thien 2 is to target foreign direct investors, particularly small and medium sized companies from Japan and South Korea. During the second quarter of 2012, a handover to its first tenant, Nippon Paint, was finalized.
Commenting on the transaction, Managing Director Tony Hsun said, "This USD5.0 million will assist VNI in pushing for the completion of the 40 ha phase 1 infrastructure development, attracting more tenants to the park and ultimately helping achieve this investment's strategic goals and delivering higher returns for shareholders."
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About VinaCapital
VinaCapital is a leading investment management and real estate development firm in Vietnam, with a diversified portfolio of USD1.6 billion in assets under management. VinaCapital was founded in 2003 and boasts a team of managing directors who bring extensive international finance and investment experience to the firm. Our mission is to produce superior returns for investors by using our experience and knowledge to identify the key trends and opportunities that emerge as Vietnam continues to develop its economy. To achieve this, VinaCapital has industry-leading asset class teams covering capital markets, private equity, fixed income, venture capital, real estate and infrastructure.
VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange. These funds are: VinaCapital Vietnam Opportunity Fund Limited (VOF), VinaLand Limited (VNL), and Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages the DFJ VinaCapital L.P. technology venture capital fund with Draper Fisher Jurvetson.VinaCapital has offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang, Phnom Penh (Cambodia) and Singapore. More information about VinaCapital is available at www.vinacapital.com
Enquiries:
David DropseyVinaCapital Investment Management LimitedInvestor Relations/Communications+84 8 821 9930david.dropsey@vinacapital.comPhilip SecrettGrant Thornton Corporate Finance, Nominated Adviser+44 (0)20 7583 5100philip.j.secrett@uk.gt.com Hiroshi FunakiLCF Edmond de Rothschild Securities, Broker+44 20 7845 5960funds@lcfr.co.uk
David Benda / Hugh JonathanNumis Securities Limited, Broker+44 (0)20 7260 1000
Mark WaltersFTI Consulting, Public Relations (Hong Kong)+852 3716 9802mark.walters@fticonsulting.com
Andrew WaltonFTI Consulting, Public Relations (London)+44 (0)20 7269 7204andrew.walton@fticonsulting.com