PAN Farm (IFC-37130)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
Hanoi, Vietnam.
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
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 12, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PAN FARM JSC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 28.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 26, 2017

Disclosed by Bank Feb 17, 2017


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Project Description
According to IFC website, the proposed investment is to subscribe for an equity stake with an estimated consideration of up VND 230 billion (approximately US$10 million) in common shares of in Pan Farm JSC, a Vietnamese farming company held by an IFC’s existing IS & AS client, The Pan Group which is a listed agribusiness conglomerate with market capitalization of $186 million as of August 9, 2016. The Group Established Pan Farm in July 2016 with the vision to grow to become a leading integrated agricultural supplier in Vietnam, which focuses on providing high quality farming inputs and solutions to farmers, and meeting the growing demand for traceable and safe agricultural products at domestic and international level. Pan Farm owns 75% of National Seed Corporation, the largest producer and distributor of crop seeds in Vietnam and 64% of Pan-Saladbowl JSC, a greenfield horticulture grower of high quality flowers for export to Japan. The proposed investment will support the horizontal integration of NSC, the development of new agricultural products such as fruits and vegetables through joint ventures with international strategic partners and the expansion of Pan-Saladbowl.
Investment Description
  • International Finance Corporation (IFC)
The Pan Group established Pan Farm in July 2016 with the vision to become a leading integrated agricultural supplier in Vietnam, which focuses on providing high quality farming inputs and solutions to farmers, and meeting the growing demand for traceable and safe agricultural products at domestic and international level. The IFC will invest in the Pan Farm JSC as an equity stake with an estimated consideration of up VND 230 billion (approximately US$10 million).
Contact Information
Project Contact: Mr. Nguyen Viet Hung Chief Executive Officer, PAN Farm JSC Contact No.: +84-4 3760 6190 Email Address: hungnv@thepangroup.vn 15th Floor, ICON4 Tower, 243A De La Thanh Street, Hanoi, Vietnam 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/