VinaCapital Vietnam Opportunity Fd. Investment in Leading Digital Advertising Platform (3735P)
09 Febbraio 2023 - 8:00AM
UK Regulatory
TIDMVOF
RNS Number : 3735P
VinaCapital Vietnam Opportunity Fd.
09 February 2023
VinaCapital Vietnam Opportunity Fund Limited
(the "Company" or "VOF")
LEI Number: 2138007UD8FBBVAX9469
9 February 2023
VOF INVESTS IN VIETNAM'S LEADING DIGITAL ADVERTISING
PLATFORM
VinaCapital Vietnam Opportunity Fund (LSE: VOF), the flagship
fund of VinaCapital, announces that it has made a private equity
investment in Chicilon Media Information Technology Vietnam Joint
Stock Company ("Chicilon Media"), the leading inner-building
advertising company in Vietnam. VinaCapital will lead a consortium
to invest USD38 million in Chicilon Media, of which VOF will invest
USD30 million for an undisclosed stake and will receive one seat on
the board.
Chicilon Media's LCD screens are located in the lifts and
lobbies of residential and commercial buildings across Vietnam,
reaching the growing urban middle class, the most-prized target
audience for both local and global consumer brands. The
indoor-building advertising channel is a highly cost-effective
medium for advertisers since it enjoys uninterrupted attention from
targeted audiences, for example while inside lifts. With per capita
advertising spending in Vietnam forecasted to grow significantly in
the years ahead, Chicilon Media is well-positioned to capture a
sizeable portion of that spending, given the cost effectiveness,
reach, and demographics of its channel.
Founded in 2006, Chicilon Media has consistently delivered
double-digit revenue growth on average. The company has been
constantly profitable, even during the Covid pandemic in 2020-2021.
Following the post-Covid reopening of the economy, Chicilon Media
has seen a strong recovery of its business, as evidenced by its net
profit quadrupling in 2022 year-on-year. When Chicilon Media
launched, there were nine building lift advertising companies in
the market; today, there are only two, with Chicilon Media four
times the size of its closest competitor in terms of market
share.
Mr Andy Ho, Managing Director of VOF, said, "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 benefitting
from Vietnam's growing middle class and strong domestic consumption
story. Its management team have a clear vision and strategy, are
experienced and recognise the need to innovate their business. In
addition to currently leading the market, they also evolve with it,
by investing in advanced equipment and having a strong commitment
to research and development. We look forward to working with
Chicilon Media to help take the company to its next stage of
growth."
Chicilon Media intends to use the investment from VinaCapital to
expand within the industry and across other provinces, as well as
continue R&D and upgrade facilities.
About VOF
VinaCapital Vietnam Opportunity Fund Limited (the "Company" or
"VOF") is a Guernsey domiciled closed-ended investment company. The
Company is quoted and trades on the Main Market of the London Stock
Exchange ("LSE") with a Premium Listing, and is a FTSE-250
constituent.
The Company provides broad exposure to Vietnam's robust economic
growth from investments across listed and private equity asset
classes, with a focus on sectors that contribute to and benefit
from the growing domestic economy. Its objective is to achieve
medium to long-term returns through investment in assets in (or
derived from) Vietnam.
As at 31 January 2023 the Company had Net Assets of USD1.1
billion.
VOF is managed by VinaCapital Fund Management Limited, an entity
regulated in Vietnam by the State Securities Commission of Vietnam,
a member of the International Organization of Securities
Commissions. VinaCapital is one of Vietnam's leading investment
management companies, with USD3.6 billion in assets under
management.
For more information about VOF, please visit
https://vinacapital.com/investment-solutions/offshore-funds/vof/overview/
.
Enquiries:
Joel Weiden
-----------------------------------------------------------
Investment Manager - Investor Relations and Communications
VinaCapital Investment Management Limited
T: +84 28 3821 9930
E: joel.weiden@vinacapital.com
David Benda / Hugh Jonathan
-----------------------------------------------------------
Broker
Numis Securities Limited
T: +44 20 7260 1000
E: funds@numis.com
Magdala Mullegadoo
-----------------------------------------------------------
Company Secretary / Administrator
Aztec Financial Services (Guernsey) Limited
T: +44 1481 748 814
E: vinacapital@aztecgroup.co.uk
Edward Gascoigne-Pees
-----------------------------------------------------------
Public Relations (London)
Camarco
T: +44 20 3757 4980
E: ed.gascoigne-pees@camarco.co.uk
William Hampsey-Cook
-----------------------------------------------------------
Marketing and Distribution (United Kingdom)
Frostrow Capital LLP
T: +44 20 3709 9281
E: will.hampsey-cook@frostrow.com
Dion Di Miceli / Stuart Muress / Andrew Davies
-----------------------------------------------------------
Marketing and Investor Engagement (Global)
Barclays Bank PLC
T: +44 207 623 2323
E: BarclaysInvestmentCompanies@barclays.com
1. References to VOF or the Company in this announcement shall
mean VinaCapital Vietnam Opportunity Fund Limited, a non-cellular
company incorporated in the Bailiwick of Guernsey under The
Companies (Guernsey) Law, 2008, with registered number 61765. It is
authorised by the Guernsey Financial Services Commission (reference
number 2268242) as a registered closed-ended investment scheme
under The Protection of Investors (Bailiwick of Guernsey) Law, 1987
and in compliance with the Registered Collective Investment Scheme
Rules, as amended.
2. The registered office address of the Company is East Wing,
Trafalgar Court, Les Banques, St Peter Port, Guernsey, Channel
Islands, GY1 3PP.
3. This announcement may contain inside information as
stipulated under the Market Abuse Regulations (EU) NO. 596/2014
(MAR).
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February 09, 2023 02:00 ET (07:00 GMT)
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