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Fund divests shares of packaging firm
On Feb. 14, Mekong Capital announced that its Mekong Enterprise Fund has fully completed the sale of its shares in Minh Phuc Printing and Packaging Company.
Mekong Capital said shares were sold to a Vietnamese investor, but it did not disclose the price.
Since Mekong Enterprise Fund invested in Minh Phuc in November 2004, the company has grown its net profit by improving its production execution skills and optimising raw material cost management.
As of December 2010, it had achieved nearly US$10 million in revenues and $1 million in net profit.
Minh Phuc supplies mainly to the beer and tobacco industries, as well as other consumer goods sectors such as confectioneries and baked goods.
The company currently focuses on the domestic market with a small portion of its products going to some countries in Asia and the Middle East.
The $18.5 million Mekong Enterprise Fund is a private equity fund focusing on equity investments in private entrepreneurial businesses in Viet Nam.
It was launched in 2002 and invested in 10 private companies founded and managed by private Vietnamese entrepreneurs.
The final investment of the Mekong Enterprise Fund was made in 2005.
The fund is currently in a divestment phase and has sold four of its 10 investments.
vietnamnews
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