Anova (IFC-36286)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Dong Nai, Long An, and Hung Yen provinces
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 3, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Anova Corporation
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 58.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Media Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 17, 2019

Disclosed by Bank Sep 16, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

This project finances the construction and operation of a new feed mill in Dong Nai, a bulk warehouse for its existing feed mill in Long An, and a new feed mill in Hung Yen.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

This project is funded by IFC quasi-equity financing up to $10 million with specific use of proceeds to Anova Feed Joint-Stock Company, domiciled in Vietnam.

Mr. Bui Thanh Nhon, the founder and the Board Chairman of Anova, and his family hold 88.8% of the company. Duxton Asset Management owns 6.8% and the remaining 4.4% are held by around 90 individuals, mainly current or former employees and key stakeholders of the company. Duxton Asset Management is a Singapore-based asset manager focused on agribusiness sector around the globe.

Duxton has invested in the company in 2011. Anova Corporation is a holding investment company specializing in importing, manufacturing and distributing animal health products and raw materials for veterinary industry. Its subsidiaries include Anova Veterinary Pharmacy Joint-Stock Company and Anova Joint Venture Limited Company (animal medicine manufacturing), Than Nhon Corporation (animal medicine trading) and Anova Technology Distribution Joint-Stock Company (animal medicine distribution), Anova Feed Joint-Stock Company (feed producer), Nova Trading (feed raw material trading), Anova Biotechnology Joint-Stock Company (animal vaccine trading) and Anova Farm (livestock farming).


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Cong Huyen Ton Nu My Lien
Chief Financial Officer
Anova Corporation
315 Nam Ky Khoi Nghia St, Ward 7
District 3, Ho Chi Minh City, Vietnam
Tel: (848) 3846 6888 - Ext. 215
Fax: (848) 3848 1998
E-mail: mailto:lien.my@anovacorp.vn

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works