Nabarro is advising main market listed PXP Vietnam Fund Ltd on a placing and open offer issue to raise up to $134.56 million (before expenses).  The placing and open offer is being structured as a C Share issue to avoid economic dilution to the net asset value of the existing ordinary shares in the company.  PXP Vietnam Fund invests primarily in listed securities of Vietnamese companies.
 
PXP Vietnam Fund originally listed on the Irish Stock Exchange in 2004. Nabarro advised the company on its move to a premium listing on the London Stock Exchange as an investment company under Chapter 15 of the Listing Rules in 2010.
 
The Nabarro team was led by Corporate partner Alasdair Steele, with Corporate associates Albert Li and Sam Whiteman. Spark Advisory Partners is acting as sponsor and Panmure Gordon (UK) as placing agent.
 
Commenting on the transaction, corporate partner Alasdair Steele said:
 
"UK equity markets have had a buoyant start to 2014, with investor appetite for new issues returning for both commercial companies and investment funds. As well as significant interest in UK assets, we are also seeing increasing interest in emerging economies such as Vietnam."