Ho Chi Minh City, Vietnam
Indochina Capital Vietnam Holdings Limited, a Vietnam investment fund listed on the London Stock Exchange main market under symbol ICV, is proud to announce that one of its equity portfolio holdings is listing today on the Ho Chi Minh City Stock Exchange.
Viet Han Corporation (the "Company") is listed under symbol VHG. The Company is one of Vietnam's leading manufacturers of telecommunications cables. ICV has owned a 14% private equity stake in the Company since March 29, 2007.
The Company's listing is being watched by market participants as a quality mid-cap manufacturing and telco infrastructure industry play on Vietnam that is occurring at a time when the VN Index has dropped to a 12 month low of 764.13. Furthermore, the timing of this listing is near to Vietnam's Lunar New Year Celebration and the closing of the Exchange from the 4th until the 12th of February.
Following roadshow presentations in Ho Chi Minh City, there has been strong interest in the listing by local securities firms and fund managers. In particular, several prominent foreign investment funds operating in Vietnam are already key shareholders including funds managed by Indochina Capital and VinaCapital. Singapore and Korea based investors are also key foreign shareholders.
Dinh Cong Trang, Viet Han's Chairman says about the Company's foreign investors, "Our foreign investors and partners are determined to help Viet-Han Corporation envisage business strategies, enhance management, analyze risks in the projects ready to get off the ground, and improve human resources. Foreign business groups are a good choice as they have advantages in their experiences, technology, resources and close links with partners around the world. Their support makes it easier for us to expand our operations and investment in various business areas."
2007 was a milestone year for Viet Han Corporation in which it commenced a series of manufacturing expansion projects in growth sectors including new factories to produce optic cables, CCA (copper clad aluminum) electric wires, and FRP (fiber reinforced polymer) wires. The Company expects that some of these products will be available as soon as the end of first quarter this year.
www.indochinacapital.com
Source: Business Wire (Business Wire India)