IES Holdings Ltd.

M&A Activity • Nov 14, 2017

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RNS Number : 3759W

VietNam Holding Limited

14 November 2017

VietNam Holding Limited

("VNH" or the "Company")

VietNam Holding concludes sale of Traphaco

Ho Chi Minh City, Vietnam, 13 Nov 2017: VietNam Holding Asset Management is pleased to announce that Vietnam Holding Ltd. ("VNH" or the "Fund") has successfully divested its stake in Traphaco Joint Stock Company ("Traphaco") via a consortium sale. VNH invested in Traphaco in 2007.

Since VNH's investment, Traphaco has increased revenue from USD 33 million in 2007 to USD 88 million in 2016. From an environmental, social and governance (ESG) perspective, Traphaco put in place a sustainable development strategy and implemented the "GreenPlan" program. Through its engagement program VNH actively promoted Traphaco's sustainability strategy as well as the selection of independent board members.

VNH disposed of a 10.4% stake in Traphaco generating an internal rate of return of approximately 30.4% over the holding period with total proceeds of USD 26.9 million accruing to the Fund. The sale increased VNH's NAV per share as at Friday 10 November by 0.85% to USD 2.844.

About Traphaco

Traphaco is a leading pharmaceutical company specialised in the development, marketing and distribution of Vietnamese over the counter and prescription medicines. Traphaco is a member of the union for ethical biotrade, employs a workforce of more than 800 and sources more than 90% of its input materials locally. Traphaco benefits from strong brand recognition and accesses Vietnam's 93 million inhabitants through its proprietary nationwide distribution network across 23,000 pharmacies.

In 2008, Traphaco was officially listed on the Ho Chi Minh Stock Exchange and recognized as the No. 1 Pharmaceutical brand in Vietnam in 2009.

About VNH

VNH is a value investor aiming to achieve long-term capital appreciation through exposure to high-growth companies based in Vietnam that demonstrate strong environmental, social and corporate governance credentials. Its current investment themes are domestic consumption and urbanization.

For more information please visit the VNH website or contact:

VietNam Holding Asset Management Limited Business Development	Tel: +44 7810 785 933
Jay Vontobel
finnCap Ltd Nominated Adviser and Broker	Tel: +44 20 7131 4000
Stuart Andrews / William Marle / Giles Rolls
Buchanan Communications Financial Public Relations	Tel: +44 20 7466 5000
Charles Ryland / Sophie McNulty

This information is provided by RNS

The company news service from the London Stock Exchange

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