LONDON (ShareCast) - (ShareCast News) - VinaCapital announced on Friday that its flagship fund, VinaCapital Vietnam Opportunity Fund, had become a significant investor in Tasco JSC, which it described as a "leading toll road operator" and real estate development company in northern Vietnam, via a private placement.
The AIM-traded firm said Tasco's private placement raised $23m by issuing 21% of post-investment common shares to several investors including company management, with the largest acquirer being VOF, which invested $11m.

It said Tasco will use proceeds of the private placement to help finance future infrastructure and real estate projects.

"The private placement gave us the opportunity to acquire a meaningful stake at an attractive price in a company that has a long track record of results and a strong pipeline," said VinaCapital chief investment officer Andy Ho.

"This investment is consistent with our philosophy of investing in companies that are focused on the growth of the local economy, and infrastructure improvement is a critical element in Vietnam's ongoing development."

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