Vietnam Holding Asset Management sells stake in Traphaco

Value-investor Vietnam Holding Asset Management (VNH) "successfully" divested its stake in Traphaco Joint Stock Company, a leading pharmaceutical firm, the outfit announced on Tuesday.

Since 2007, when VNH made the investment, revenue in Traphaco more than doubled from $33m to $88m in 2016.

Having disposed of a 10.4% stake in Traphaco, VNH generated an internal rate of return of approximately 30.4% during the holding period, with total proceeds of $26.9m accruing to the fund.

The transaction also resulted in a 0.85% increase in VNH's net asset value per share to $2.8.