9th Feb 2023 12:59
VinaCapital Vietnam Opportunity Fund Ltd - fund of investment manager VinaCapital, investing in listed, private equity state-owned enterprise assets in Vietnam - Makes a private equity investment in Chicilon Media Information Technology Vietnam Joint Stock Co, an indoor-building advertising company based in Vietnam. VinaCapital will lead a consortium to invest USD38 million in Chicilon Media, of which VinaCapital Vietnam Opportunity Fund will invest USD30 million and receive an undisclosed stake.
Chicilon Media advertises inside residential and commercial buildings across Vietnam. VinaCapital Vietnam Opportunity Fund says the company has "consistently" delivered double-digit revenue growth on average and has been "constantly" profitable. It intends to use the investment from VinaCapital to expand within the industry and across other provinces.
Andy Ho, managing director of VinaCapital Vietnam Opportunity Fund says: "Chicilon Media is an ideal example of a market leading company we like to invest in. It is well-established and linked to sectors that are benefiting from Vietnam's growing middle class and strong domestic consumption story."
Current stock price: 471.00 pence, up 0.4% in London on Thursday afternoon
12-month change: down 8.4%
By Heather Rydings, Alliance News senior economics reporter
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