Mekong Capital Fund Fully Exits Investment in AA Corporation

On 10th October, Mekong Enterprise Fund successfully divested all of its investment in AA Corporation to an investment fund. This is the 5th full exit by the Mekong Enterprise Fund, and the 8th full exit among funds managed by Mekong Capital.

 

This divestment results in a gross return multiple of 2x and a gross IRR of approximately 10 percent on the shares sold by Mekong Enterprise Fund. The Fund originally invested US$1.67 million in AA, from March 2003 to July 2005.

 

Mr Nguyen Quoc Khanh, Chairman of AA Corporation, expressed: “AA Corporation has had Mekong Enterprise Fund as our shareholder since 2003. Their investment in AA Corporation allowed us to expand our manufacturing facility which continues to be the backbone of our competitive advantage in the market.”

 

“AA was one of Mekong Enterprise Fund’s first two investments, which we have been holding for more than 8 years. In recent years they have built up their management team, and delivered increasingly strong performance. 2011 has been their best year ever in terms of net profit performance. We are delighted to be selling our shares in AA at a time that the company is so healthy” said Mr Chris Freund, Managing Partner of Mekong Capital.