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VietNamNews

Purchasing 11.5m shares, VEIL becomes strategic partner at PCC1

Update: September, 17/2016 - 09:21
Power Construction JSC No 1 (PCC1) has sold nearly 11.5 million shares to the London-traded Vietnam Enterprise Investments Limited (VEIL) for nearly VNĐ380 billion (US$16.9 million). — Photo cafef.vn

HÀ NỘI — Power Construction JSC No 1 (PCC1) has sold nearly 11.5 million shares to the London-traded Vietnam Enterprise Investments Limited (VEIL) for nearly VNĐ380 billion (US$16.9 million).

The shares were sold for a price of VNĐ33,000 per share.

The deal also allows VEIL to act as a strategic investor in PCC1. With that shift, VEIL is now able to send a representative to attend PCC1’s shareholder meetings.

After the deal, PCC1 increased its chartered capital to VNĐ753 billion from VNĐ638 billion.

VEIL is a closed-end fund, managed by the HCM City-based investment group Dragon Capital and traded on the Main Market of the London Stock Exchange.

VEIL now owns total asset of more than $900 million. — VNS

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