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VinaCapital has invested $10 million in Ricons
VinaCapital has invested $ 10 million in Ricons Investment Construction JSC, a subsidiary of Cotec Construction.
A representative of VinaCapital told Deal Street Asia, "This Investment is in line with our investment strategy in companies that benefit from growth in the country."

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The investment in Ricons is made through the VOF (Vietnam Opportunity Fund). Founded in 2004 as a real estate investment company, Ricons then diversified into construction. Since then, it has been carrying out large-scale civil and industrial projects nationwide.

Investors include Dragon Capital, SSI AM, Havana and Daiwa Investment. Last January, Ricons completed the sale of more than 8.13 million shares to the public to collect 203.4 billion. On 14.3, the company officially raised charter capital to 305 billion. In 2017, Ricons overtook targets set for both revenue and profit. Net revenue reached VND6.5 trillion and net profit came to VND287 billion, up 37% y / y and 50% y / y.

 CotecCons, which owns nearly 15% of Ricons, has been selected as the general contractor for Landmark 81, part of the Vinhomes Central Park. Once completed, Landmark 81 will be the tallest tower in Vietnam.

Last month, VOF invested US $ 32.5 million to buy back minority stake in Ba Huan Joint Stock Company, the country's leading egg and poultry producer. In January, VinaCapital also invested about $ 45 million in PV Power and Binh Son Petrochemicals.

VinaCapital, established in 2003, is a leading asset management and investment management company in Vietnam with a diversified portfolio of assets worth $ 1.8 billion.

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