Mekong Capital today February 14 announced that its arm Mekong Enterprise Fund, Ltd. had fully completed the sale of its shares in Minh Phuc Printing and Packaging Company after seven years holding stake.
Mekong Enterprise Fund’s shares were sold to a Vietnamese investor. Since Mekong Enterprise Fund invested in Minh Phuc in November 2004, the company has grown its net profit by continuously strengthening its production execution skills and the optimisation of raw material cost management.
Minh Phuc achieved approximately $10 million in revenues and $1 million in net profit as of December last year.
“We acknowledge Minh Phuc’s management team for leading Minh Phuc in a way that the company grew in a stable way and achieved its targets in recent years. Minh Phuc is an example of strong operational efficiency and reliable performance. We are also pleased that this was a profitable investment for the Fund,” Thomas Lanyi, a director of Mekong Capital.
The $18.5 million Mekong Enterprise Fund, Ltd. is a private equity fund focusing on equity investments in private entrepreneurial businesses in Vietnam. The fund was launched in 2002 and invested in ten private companies founded and managed by private Vietnamese entrepreneurs.
The final investment of Mekong Enterprise Fund was made in 2005. The fund is currently in a divestment phase and has sold 4 of its 10 investments.