LG advises Vietnam infrastructure fund raising $400m
24 July 2007
LG’s Investment Funds team has advised Vietnam Infrastructure Fund (“VIL”) – a newly incorporated Cayman company established to invest in a diversified portfolio of infrastructure and infrastructure related assets – on one of the largest fund raisings on AIM this year.
VIL raised $400 million in conjunction with an application to have its share capital admitted to AIM. Dealings commenced on the 6 July 2007. The assets of VIL will be managed by VinaCapital Investment Management Ltd (“Vinacapital”) who are based in Ho Chi Minh City with offices in Hanoi and Hong Kong.
The LG team advising VIL consisted of corporate finance partner Nick Heather and corporate associates John Reed and Kristian Rogers.
Commenting on the deal Nick said: "From our point of view we are very pleased to be involved in yet another successful AIM issue for Vinacapital. We acted for them in 2003 when they floated Vietnam Opportunity Fund Limited (“VOF”) on AIM which raised just $10m. Since then it has grown to approximately $874 (as at 30 April 2007). We also acted for them in 2006 on the very successful float on AIM of Vinaland Limited which raised approximately $400m and now has a market cap of approximately $756m. Vinacapital have built a very successful fund management business centred on Vietnam and using AIM as a platform for its funds.”
The nominated adviser was Grant Thornton and the broker was LCF Edmond de Rothschild Securities Limited. Both were represented by Hunton & Williams.
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LG is a business law firm, advising clients around the world. Our base is in London like our clients, our reach is global. Our clients’ businesses are complex and fast-changing, so our services are flexible to meet their needs.
LG has advised on over 200 AIM transactions, helping clients to raise over £2 billion new funds.
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