<article><a style="color: #000080;" href="https://www.dealstreetasia.com/tag/international-finance-corporation/">International Finance Corporation</a> (IFC) is considering an investment of up to $28.2 million in Vietnamese agribusiness firm Nafoods Group for its operational expansion.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/tag/international-finance-corporation/">International Finance Corporation</a> (IFC) is considering an investment of up to $28.2 million in Vietnamese agribusiness firm Nafoods Group for its operational expansion.
The investment will be made through a Vietnamese dong-denominated convertible corporate bond worth $8 million, internally generated cash and equity/ bank borrowings.
&#8220;Nafoods is approaching IFC for support to fund the construction of the second phase of the Long An factory, development of a passion fruit liquid extraction workshop and a packing house in Central Highland, R&amp;D expenses for development of citrus seedlings, and implementation of technology for supply chain management and permanent working capital,&#8221; IFC said in a disclosure.
In addition to financial support, IFC plans to leverage its network in the agribusiness sector to expand Nafoods’ international customer base. The development institution is likely to get a seat on Nafoods’ board.
The company is listed on the Ho Chi Minh City Stock Exchange. Boutique investment fund Endurance Capital Vietnam Limited owns a 5.3 per cent stake in the firm, while the majority share of 77 per cent is held by its founding chairman Nguyen Manh Hung and his relatives and associates.
Established in 1995, Nafoods specialises in fruit manufacturing and exports. The company is currently engaged in four business lines of fruit concentrate and puree, individually quick frozen (IQF) fruit products, passion fruit seedlings and fresh fruits.
It has two manufacturing facilities in central and southern Vietnam with a total annual capacity of 12,000 tonnes of concentrate/puree and 7,900 tonnes of IQF. It also produces passion fruit seedlings in an area of 6 hectare.
Nafoods recorded $22.9 million in net revenue, $4.2 million in EBITDA and $2.9 million in net profit in 2017.
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The IFC investment will be made through a VND-denominated convertible corporate bond worth $8 million, internally generated cash and equity/ bank borrowings.

IFC mulls $28.2m investment in Vietnam-based agribusiness firm Nafoods

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IFC mulls $28.2m investment in Vietnam-based agribusiness firm Nafoods

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