REG - VinaCapital Vietnam - Investment in Leading Digital Advertising Platform

VinaCapital Vietnam Opportunity FundAnnouncement

09/02/2023 07:00

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RNS Number : 3735P  VinaCapital Vietnam Opportunity Fd.  09 February 2023

VinaCapital Vietnam Opportunity Fund Limited

(the "Company" or "VOF")

LEI Number: 2138007UD8FBBVAX9469

9 February 2023

VOF INVESTS IN VIETNAM'S LEADING DIGITAL ADVERTISING PLATFORM

VinaCapital Vietnam Opportunity Fund (LSE: VOF), the flagship fund of
VinaCapital, announces that it has made a private equity investment in
Chicilon Media Information Technology Vietnam Joint Stock Company ("Chicilon
Media"), the leading inner-building advertising company in Vietnam.
VinaCapital will lead a consortium to invest USD38 million in Chicilon Media,
of which VOF will invest USD30 million for an undisclosed stake and will
receive one seat on the board.

Chicilon Media's LCD screens are located in the lifts and lobbies of
residential and commercial buildings across Vietnam, reaching the growing
urban middle class, the most-prized target audience for both local and global
consumer brands. The indoor-building advertising channel is a highly
cost-effective medium for advertisers since it enjoys uninterrupted attention
from targeted audiences, for example while inside lifts. With per capita
advertising spending in Vietnam forecasted to grow significantly in the years
ahead, Chicilon Media is well-positioned to capture a sizeable portion of that
spending, given the cost effectiveness, reach, and demographics of its
channel.

Founded in 2006, Chicilon Media has consistently delivered double-digit
revenue growth on average. The company has been constantly profitable, even
during the Covid pandemic in 2020-2021. Following the post-Covid reopening of
the economy, Chicilon Media has seen a strong recovery of its business, as
evidenced by its net profit quadrupling in 2022 year-on-year. When Chicilon
Media launched, there were nine building lift advertising companies in the
market; today, there are only two, with Chicilon Media four times the size of
its closest competitor in terms of market share.

Mr Andy Ho, Managing Director of VOF, said, "Chicilon Media is an ideal
example of a market leading company we like to invest in. It is
well-established and linked to sectors that are benefitting from Vietnam's
growing middle class and strong domestic consumption story. Its management
team have a clear vision and strategy, are experienced and recognise the need
to innovate their business. In addition to currently leading the market, they
also evolve with it, by investing in advanced equipment and having a strong
commitment to research and development. We look forward to working with
Chicilon Media to help take the company to its next stage of growth."

Chicilon Media intends to use the  investment from VinaCapital to expand
within the industry and across other provinces, as well as continue R&D
and upgrade facilities.

About VOF

VinaCapital Vietnam Opportunity Fund Limited (the "Company" or "VOF") is a
Guernsey domiciled closed-ended investment company. The Company is quoted and
trades on the Main Market of the London Stock Exchange ("LSE") with a Premium
Listing, and is a FTSE-250 constituent.

The Company provides broad exposure to Vietnam's robust economic growth from
investments across listed and private equity asset classes, with a focus on
sectors that contribute to and benefit from the growing domestic economy. Its
objective is to achieve medium to long-term returns through investment in
assets in (or derived from) Vietnam.

As at 31 January 2023 the Company had Net Assets of USD1.1 billion.

VOF is managed by VinaCapital Fund Management Limited, an entity regulated in
Vietnam by the State Securities Commission of Vietnam, a member of the
International Organization of Securities Commissions. VinaCapital is one of
Vietnam's leading investment management companies, with USD3.6 billion in
assets under management.

For more information about VOF, please visit
https://vinacapital.com/investment-solutions/offshore-funds/vof/overview/
(https://vinacapital.com/investment-solutions/offshore-funds/vof/overview/) .

 

Enquiries:

 

 Joel Weiden
 Investment Manager - Investor Relations and Communications

 VinaCapital Investment Management Limited
 T: +84 28 3821 9930
 E: joel.weiden@vinacapital.com

 David Benda / Hugh Jonathan
 Broker

 Numis Securities Limited
 T: +44 20 7260 1000
 E: funds@numis.com

 Magdala Mullegadoo
 Company Secretary / Administrator

 Aztec Financial Services (Guernsey) Limited
 T: +44 1481 748 814
 E: vinacapital@aztecgroup.co.uk

 Edward Gascoigne-Pees
 Public Relations (London)

 Camarco
 T: +44 20 3757 4980
 E: ed.gascoigne-pees@camarco.co.uk

 William Hampsey-Cook
 Marketing and Distribution (United Kingdom)

 Frostrow Capital LLP
 T: +44 20 3709 9281
 E: will.hampsey-cook@frostrow.com

 Dion Di Miceli / Stuart Muress / Andrew Davies
 Marketing and Investor Engagement (Global)

 Barclays Bank PLC
 T: +44 207 623 2323
 E: BarclaysInvestmentCompanies@barclays.com

1.    References to VOF or the Company in this announcement shall mean
VinaCapital Vietnam Opportunity Fund Limited, a non-cellular company
incorporated in the Bailiwick of Guernsey under The Companies (Guernsey) Law,
2008, with registered number 61765. It is authorised by the Guernsey Financial
Services Commission (reference number 2268242) as a registered closed-ended
investment scheme under The Protection of Investors (Bailiwick of Guernsey)
Law, 1987 and in compliance with the Registered Collective Investment Scheme
Rules, as amended.

2.   The registered office address of the Company is East Wing, Trafalgar
Court, Les Banques, St Peter Port, Guernsey, Channel Islands, GY1 3PP.

3.    This announcement may contain inside information as stipulated under
the Market Abuse Regulations (EU) NO. 596/2014 (MAR).

 

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