Dragon Capital invests $3.36m in publicly listed Electricite du Laos Generation
Dragon Capital has made the first investment from its Mekong Brahmaputra Clean Development Fund L.P., in the Laos state-backed hydro-electric power company Electricite du Laos Generation (EdL Gen), purchasing $3.36 million worth of shares in the company in its debut on the newly formed Laos Stock Exchange.
The Mekong Brahmaputra Clean Development Fund L.P., managed by Dragon Capital Group's subsidiary Dragon Capital Clean Development Ltd., is now the third-largest foreign investor in EdL Gen, holding 6,285,200 shares. Gavin Smith, Dragon Capital's Director of Clean Development, told AVCJ that investment accounts for a .75% stake. At the end of its first week of trading on the securities exchange, EdL Gen was up 30% at LAK5600 ($.69), the firm added.
EdL Gen and Banque pour Le Commerce Exterieur Lao are the first stocks listed in the new securities exchange. The group also counts Leopard Capital as a backer.
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