UOB Acquires Vietnam Asset Manager
In this article (4)
UOB Asset Management will acquire VAM Vietnam Fund Management Joint Stock Company, pending regulatory approval.
UOB Asset Management has agreed to initially acquire 1.13 million ordinary shares from VAM Vietnam Fund Management Joint Stock Company from individual Nguyen Xuan Minh. The deal for the firm’s 24.53 percent shareholding is valued at VND113,680 million ($4.9 million), according to a report.After regulators approve the deal, another 3.47 million ordinary shares, or 75.47 percent of issued share capital, will be acquired by UOB Asset Management making VAM Vietnam Fund Management Joint Stock Company its subsidiary
RegionalizationAccording to a release, the acquisition considered various factors including capital, net asset value and asset under management of VAM. The acquisition is also expected to further strengthen UOB Asset Management’s presence in Asia, in line with its regionalization plans. As of October 31 this year, VAM’s net asset value was around VND26 billion ($1.1 million) and it had assets under management of approximately VND114 billion ($4.9 million).
Questions & Answers
Q.What is the total value of VAM Vietnam Fund Management Joint Stock Company's assets under management?
What is the total value of VAM Vietnam Fund Management Joint Stock Company's assets under management?
A.
As of October 31st this year, VAM Vietnam Fund Management Joint Stock Company had approximately VND114 billion in assets under management. This figure is equivalent to around $4.9 million.
Q.What percentage of VAM Vietnam Fund Management Joint Stock Company will UOB Asset Management eventually own?
What percentage of VAM Vietnam Fund Management Joint Stock Company will UOB Asset Management eventually own?
A.
After receiving regulatory approval for the initial deal, UOB Asset Management will acquire an additional 75.47 percent of the issued share capital. This means UOB Asset Management will eventually own 100% of the company, making it a subsidiary.
Reader pulse
What does UOB's acquisition signal for the region?
22,788 votes so far