VinaCapital Invests US$15 Mln into Prime Group

VinaCapital Group, a leading asset management, investment banking and real estate consulting firm, has invested US$15 million through its Vietnam Opportunity Investment Fund Ltd (VOF) in Prime Group, a Vinh Phuc Province-based manufacturer of construction materials and household appliances. The two sides inked a strategic investment agreement on April 28, 2010 and the investment was made at the end of March.

 

Mr Nguyen Van Nghia, Vice Chairman of Prime Group, said: “Prime Group plans to launch an initial public offering (IPO) at the end of this year. The group will be transformed into a public company in the long term.”

 

Prime is expected to achieve over 25 % annual growth for the next three years with the opening of a new tile factory to raise output by 20 % from the current 90 million square meters per year by 2011.