Nam Long is headquartered in Ho Chi Minh City, southern Vietnam. The Company is seeking to raise up to VND 459 billion (approximately US$21.6 million) to finance the expansion of its affordable housing business. The proposed Project comprises of 5 affordable housing developments located in Ho Chi Minh City and Binh Duong, a second tier province next to Ho Chi Minh city as: North Saigon EHome 4, Bridge View EHome 5, Golfview EHome 6, and Greenhill EHome 7 (the “Project”).
The Sponsor, Nam Long Joint Stock Company (the "Sponsor", the "Company", or "Nam Long"), is a developer of residential real estate projects including affordable housing units mainly located in suburban locations within the Greater Ho Chi Minh City Area in southern Vietnam. For a number of projects the Company is also the property management company. The Company undertakes ongoing land acquisition activities to support its land needs for future development projects. IFC has been approached to provide equity financing for this Project, a repeat investment to support the future development of housing projects in southern Vietnam.
The project sponsors are: Mr. Nguyen Xuan Quang (the Chairman/ CEO), Mr. Tran Thanh Phong (the Vice-chairman), and Ms. Nguyen Thi Bich Ngoc (the Chairman’s wife) who collectively own 33.6% of the Company’s common shares. The project sub-sponsors are: Ms. Ngo Thi Ngoc Lieu and Nam Khang Investment Corporation who collectively own 14.6% of the Company’s common shares.
Other major shareholders of the Company include:
(i) ASPL V6 Limited (16.3% shareholding): a US$50 million fund managed by Ireka, a Malaysia based real estate developer;
(ii) Nam Viet Ltd. (9.1% shareholding): a 100% owned subsidiary of Goldman Sachs Asset Management; and
(iii) Vietnam Azalea Fund Limited (6.7% shareholding): managed by Mekong Capital, a PE fund focusing on the Vietnam market.
The Project contact
Mr. Tran NGUYEN
Nam Long Investment Corporation
Capital Tower, 11th Floor, 06 Nguyen Khac Vien, Tan Phu Wd., District 7, Ho Chi Minh City, Vietnam
Tel: +848 54 161718
Fax: +848 54 171819
The IFC contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
E Mail: Webmaster
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