VinaCapital invests $45m in PV Power, Binh Son refinery in January IPOs

VinaCapital’s flagship fund, Vietnam Opportunity Fund (VOF), invested approximately $45 million into two subsidiaries of PetroVietnam including PV Power and Binh Son Refining and Petrochemical (BSR) in their initial public offering (IPOs) conducted in January.

According to its latest announcement, VOF purchased the BSR shares at a discount of 4 per cent compared to the average price of VND23,000 ($1.01) for the equitization. The fund was able to secure around 10 per cent of the available shares on offer with an investment of nearly $25 million in the refinery operator.

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