luks-industrial-brings-topup-placement

Luks Industrial brings top-up placement

The $115 million combined sale of primary and secondary shares comes after the Hong Kong-listed company announces a tie-up with the Ho Chi Minh City government.
Investors looking for a way to get exposure to the expected boom in the Vietnamese economy following the countryÆs accession into the World Trade Organisation earlier this year, were given another opportunity yesterday when Hong Kong-listed Luks Industrial Group completed a top-up placement.

The total deal size of HK$902.4 million $115 million included a small portion 14.9% of secondary shares that were sold by certain directors and members of the Luks family. The remainder of the cash will end up with the company through an ôold for newö share sale by the controlling shareholder.

The little-known company, which has been active in Vietnam since 1991, made headlines earlier this month when it announced a...
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