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VietNamNews

Dragon Capital lists fund on London Stock Exchange

Update: July, 09/2016 - 09:52
Dragon Capital officially lists its Vietnam Enterprise Investments Limited (VEIL) on the London Stock Exchange on July 5.— VNS Photo

HÀ NỘI — Dragon Capital, the leading investment management company investing in Việt Nam listed its Vietnam Enterprise Investments Limited (VEIL) on the London Stock Exchange recently.

Launched in 1995, VEIL was the largest and longest running fund focused on Việt Nam with a Net Asset Value (NAV) of over US$900 million. The London listing would create a more transparent and liquid market in VEIL’s shares allowing easier access for investors to benefit from the Viet Nam growth opportunity.

Dominic Scriven, executive chairman of Dragon Capital Group, said "With its premium listing, robust governance arrangements and a portfolio management team who have been together for the last 15 years, we believe VEIL provides a strong investment opportunity for both institutional and retail investors."

"It is hoped that the listing in London will help the fund to attract greater analyst coverage, increase VEIL’s profile and narrow the discount to NAV at which the shares currently trade," he said.

VEIL was expected to become a key vehicle for exposure to Viet Nam given its size and equity-only investment mandate, appealing to both institutional and retail investors.

Approximately half of VEIL’s NAV was represented by stocks which are at their foreign ownership limits and cannot otherwise be accessed by foreign investors. – VNS

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