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KEXIM makes equity investment in Bang Joo Electronics Vietnam
By 박한나Published : Sept. 19, 2016 - 15:36
[THE INVESTOR] The Export-Import Bank of Korea will make an equity investment of US$3.5 million in the Vietnam unit of Bang Joo Optical Industries, the state-run lender said on Sept. 19.
The move comes as Bang Joo Electronics Vietnam, manufacturer of optical image stabilization system and camera module, requested an equity investment from KEXIM to gain investors’ trust ahead of its planned initial public offering.
For the bank, this is the first equity investment decision in an overseas unit of a South Korean small and medium enterprise since the restrictions on such investments were eased in 2014.
The move comes as Bang Joo Electronics Vietnam, manufacturer of optical image stabilization system and camera module, requested an equity investment from KEXIM to gain investors’ trust ahead of its planned initial public offering.
For the bank, this is the first equity investment decision in an overseas unit of a South Korean small and medium enterprise since the restrictions on such investments were eased in 2014.
“Departing from the traditional way of financial support, mainly through loans, we are offering a financial solution customized for mid-sized firms that seek to enter overseas markets,” the bank said in a press release.
Previously, KEXIM provided a total of US$8.5 million in lease financing and business loans to Bang Joo Electronics Vietnam.
Established in 2014 at Ba Thien industrial park in Hanoi, Bang Joo Electronics Vietnam is a supplier of Samsung Electronics and Samsung Electro-Mechanics.
By Park Han-na (hnpark@heraldcorp.com)
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