Mekong Capital Partially Exits Loc Troi Group for US$9.1 Million (Asia)
Posted On: 26 Jul 2017 | Source(s): Asian Venture Capital Journal | Author(s): Tim Burroughs
Vietnam-focused private equity firm Mekong Capital has partially exited Vietnam-based agricultural products company Loc Troi Group (formerly known as An Giang Plant Protection) via its listing on the Unlisted Public Company Market (UPCoM) exchange. Mekong, which originally invested in Loc Troi in 2008 through Vietnam Azalea Fund, sold approximately 3.1 million shares, reducing its stake from 6.1 percent to 1.5 percent and generating proceeds of approximately VND209 billion (approximately US$9.1 million). Existing investors Standard Chartered Private Equity and PENM Partners did not dispose of any shares. Loc Troi manufactures and distributes crop protection chemicals and seeds and operates rice mills in Vietnam.