16th May 2018 14:08
LONDON (Alliance News) - VietNam Holding Ltd said Wednesday it signed a purchase agreement with Vietnam Equity Holdings to acquire the fund's investment portfolio.
The investment company said Vietnam Equity Holdings' investment portfolio is valued at EUR43.6 million. The agreement is subject to Vietnam Equity Holdings' shareholders approval at the company's annual general meeting on June 8.
The consideration for the acquisition is the issue of new VietNam Holding ordinary shares at a price equivalent to no less than their net asset value per share on the completion date which is expected in mid-June 2018.
In addition, the investment company said it terminated its current investment management agreement with VietNam Holding Asset Management Ltd as part of a process of renegotiating and restructuring management arrangements to retain the services of the successful portfolio management.
Vietnam Holding shares were trading at USD2.86 down 0.7%.
Related Shares:
Vietnam Holdings