Providential Capital Management Plans US$1 Billion Disbursement in 2008
Providential Capital Management Ltd. Co. plans to close a fund valued at US$200 million in February or March, and targets to disburse up to US$1 billion in Vietnam in 2008, Company Director Tran Binh was cited by the Securities Investment newspaper as saying.
Binh said PCM will invest about US$500 million for property and infrastructure projects.
“With Vietnam’s stock market remains relatively small, we plan to spend about 20 per cent of the US$1-billion funds for the daily trading activities of listed shares,” Binh noted.
PCM, set up in August 2007 by a group of investment professionals from the U.S. and Vietnam led by formerly co-founder of Dragon Capital Group, has invested more than US$200 million in 50 local companies from 1997. (Securities Investment)
Vietnamese
