INCLUSION IN FTSE UK INDEX SERIES

RNS Number : 7342I

Vietnam Enterprise Investments Ltd

02 September 2016

 

COMPANY ANNOUNCEMENT

For Release                                                                                                                      2 September 2016

Vietnam Enterprise Investments Limited

("VEIL" or the "Company")

INCLUSION IN FTSE UK INDEX SERIES

Vietnam Enterprise Investments Limited (the "Company" or "VEIL") is pleased to announce that the Company will be added to the FTSE Small Cap/All-Share Index having successfully satisfied the required eligibility criteria during the Index's September 2016 Review.  VEIL's inclusion will be effective as of 19 September 2016. 

Since the Company's listing on the Main Market of the London Stock Exchange on 5 July 2016, the Company's net asset value has increased from approximately US$890 million to US$985 million, the discount to NAV at which the Company's shares trade has narrowed from approximately 19% to 15% and the average daily traded value of the Company's shares has been approximately US$1.7 million.

Dominic Scriven, Executive Chairman of Dragon Capital Group, said: "Our inclusion in FTSE UK Index Series is another important milestone in VEIL's development and follows our successful listing in London in July.  Index inclusion should assist in continuing to broaden the Company's investor base and the liquidity of our shares while contributing to a further narrowing of the discount."

Enquiries:

Dragon Capital

Rachel Hill

[e-mail]                  

 [phone]

Smithfield

Ged Brumby                                                                                       

[e-mail]  

[phone]

Jefferies International Limited

Stuart Klein

[e-mail]                                                                                              

[phone]

About Vietnam Enterprise Investments Limited:

The Company was launched in 1995 and its Shares were admitted to trading on the main securities market of the Irish Stock Exchange until July 2016 when the listing was moved to the Main Market of the London Stock Exchange.  Since launch, the Net Asset Value of the Company has grown considerably and, as at 30 August 2016, was approximately US$985 million.  VEIL is already one of the key vehicles for exposure to Vietnam given its size and its equity-only investment mandate, appealing to both institutional and retail investors. Approximately half of VEIL's NAV is represented by stocks at their foreign ownership limits which otherwise cannot be accessed by foreign investors. In macroeconomic terms, Vietnam has an attractive growth profile, with GDP growth of 6.7% in 2015, strong FDI inflows and a young, well-educated and growing workforce. It also stands to benefit from the recent Free Trade Agreement with the EU and the US-led Trans-Pacific Partnership. The Company's portfolio is managed by the Enterprise Investment Management Limited, which is a member of the Dragon Capital group.

About Dragon Capital:

Founded in 1994, the Dragon Capital Group is an integrated investment management company focused on Vietnam and the Mekong region. Dragon Capital and its affiliates manage some US$1.41 billion in assets spanning public equity, private equity, fixed income and property.  Dragon Capital's majority shareholders are the company's founders, management and staff. The firm presently employs approximately 100 people at its offices in Asia and Europe.

For more information visit Dragon Capital's website at www.dragoncapital.com and http://www.veil-dragoncapital.com.

 

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