Indochina Capital Vietnam Holdings Limited ("ICV")
(LSE:ICV), a Vietnam focused investment fund listed on the London Stock
Exchange main market under symbol ICV, is proud to announce a strategic
growth capital investment in the International Transportation and
Trading Joint Stock Company ("ITC")
a leading private Vietnamese shipping company based in Ho Chi Minh City.
ICV has acquired a minority equity position in ITC for US$25 million and
has become one of the Company´s first
institutional investors together with Sacombank Securities who invested
in a parallel transaction. ITC is a private and closely held company
with intentions to list on the HCM City Stock Exchange in early 2010.
ITC is growing its business through the expansion of its fleet which
currently is comprised of five dry bulk ships having a total capacity of
175,000 DWT that primarily services the construction materials industry.
Furthermore, ITC is engaged in the development, ownership, and operation
of two major container ports near Ho Chi Minh City.
Tung Kim Nguyen, the investment manager´s
Co-CIO, asserts, "This growth capital
investment in ITC represents one of our strategies of investing in high
quality prelisted businesses with strong growth tied to domestic demand
in Vietnam. In this case, the investment in ITC is linked to the growth
in demand for construction materials that will continue to escalate as
Vietnam´s real estate development boom gains
pace. Some of the key development areas which will drive demand include
large scale urban infrastructure, residential, commercial, retail, and
industrial zones."
About ICV
Indochina Capital Vietnam Holdings Limited is a Vietnam focused
closed-end investment fund listed on the London Stock Exchange main
market. ICV provides institutional investors with access to a
diversified portfolio of Vietnam-based investments, including prelisted
equity, state-owned entity equity, listed equity, fixed income
short-term instruments, and other investments. The Fund´s investment
manager, Indochina Capital Advisors Limited, is a wholly-owned
subsidiary of Indochina Capital Corporation ("ICC").
ICC is one of Vietnam´s most established
foreign investment firms with a nine year institutional track-record in
Vietnam. Please visit our website at www.indochinacapital.com for more information.