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VietNam Holding Ltd (VNH)

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Tuesday 14 November, 2017

VietNam Holding Ltd

VietNam Holding concludes sale of Traphaco

RNS Number : 3759W
VietNam Holding Limited
14 November 2017
 

VietNam Holding Limited

("VNH" or the "Company")

VietNam Holding concludes sale of Traphaco

Ho Chi Minh City, Vietnam, 13 Nov 2017: VietNam Holding Asset Management is pleased to announce that Vietnam Holding Ltd. ("VNH" or the "Fund") has successfully divested its stake in Traphaco Joint Stock Company ("Traphaco") via a consortium sale. VNH invested in Traphaco in 2007.

Since VNH's investment, Traphaco has increased revenue from USD 33 million in 2007 to USD 88 million in 2016. From an environmental, social and governance (ESG) perspective, Traphaco put in place a sustainable development strategy and implemented the "GreenPlan" program. Through its engagement program VNH actively promoted Traphaco's sustainability strategy as well as the selection of independent board members.

VNH disposed of a 10.4% stake in Traphaco generating an internal rate of return of approximately 30.4% over the holding period with total proceeds of USD 26.9 million accruing to the Fund. The sale increased VNH's NAV per share as at Friday 10 November by 0.85% to USD 2.844.

About Traphaco

Traphaco is a leading pharmaceutical company specialised in the development, marketing and distribution of Vietnamese over the counter and prescription medicines. Traphaco is a member of the union for ethical biotrade, employs a workforce of more than 800 and sources more than 90% of its input materials locally. Traphaco benefits from strong brand recognition and accesses Vietnam's 93 million inhabitants through its proprietary nationwide distribution network across 23,000 pharmacies.

In 2008, Traphaco was officially listed on the Ho Chi Minh Stock Exchange and recognized as the No. 1 Pharmaceutical brand in Vietnam in 2009.

About VNH

VNH is a value investor aiming to achieve long-term capital appreciation through exposure to high-growth companies based in Vietnam that demonstrate strong environmental, social and corporate governance credentials. Its current investment themes are domestic consumption and urbanization.

For more information please visit the VNH website or contact:

VietNam Holding Asset Management Limited

Business Development

Tel: +44 7810 785 933

Jay Vontobel






finnCap Ltd

Nominated Adviser and Broker

Tel: +44 20 7131 4000

Stuart Andrews / William Marle / Giles Rolls






Buchanan Communications

Financial Public Relations

Tel: +44 20 7466 5000

Charles Ryland / Sophie McNulty


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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