Providential Holdings Forms Vietnam-Based Mergers and Acquisitions Advisory Services Subsidiary
Providential Holdings Forms Vietnam-Based Mergers and Acquisitions Advisory Services Subsidiary
Apr. 3, 2008 01:00 PM
LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- 04/03/08 -- Providential Holdings,
Inc. (OTCBB: PRVH), a company providing advisory, merger and acquisition
services as well as independently investing in Vietnamese economic
opportunities, has formed Providential Vietnam, Ltd., a wholly-owned
subsidiary that will provide merger, acquisition and funding advisory
services to Vietnamese companies. Providential Vietnam will also help
Vietnamese companies to become publicly traded in the U.S. and
international markets.
Henry Fahman, CEO of Providential Holdings, said, "The formation of
Providential Vietnam points to Providential's growing Vietnamese client
base. Interest in publicly listing abroad and obtaining financial support
in foreign markets continues to grow in Vietnam, and Providential is taking
active steps to fully exploit this demand. Providential Vietnam will work
closely with other Providential subsidiaries, including ProAm, our
recently-formed subsidiary that provides asset-management and restructuring
services, to maximize our efforts in supporting Vietnamese companies."
Providential Vietnam, headquartered at 6 Thai Van Lung St., 11 Floor in Ho
Chi Minh City, will be led by Tai Van Vo, a former co-manager of
Providential's Saigon A-2 Fund. Vo has served as CEO of Vietnam-based Thanh
Viet Investment Fund Management Corporation, which currently has more than
$100 million under management. Previously, he was a managing member of
Peregrine Capital Vietnam, a subsidiary of Peregrine Capital Hong Kong Ltd.
Prior to that, he was director of Dragon Capital Group's investment arm,
Vietnam's largest asset management company.
Tai Vo, President of Providential Vietnam, said, "The formation of
Providential Vietnam will further increase Providential's accessibility to
Vietnamese companies and ensure a steady pipeline of business for us. Since
we will focus exclusively on Vietnamese clients, our proximity to them will
help us to service them more appropriately."
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, the most important of which are M&A advisory services
and investing in the rapidly growing economies of Vietnam and Asia. As part
of its activities in Vietnam, Providential has been hosting seminars in
conjunction with the Nasdaq Stock Market, the Vietnamese Chamber of
Commerce and Industry and a leading U.S. investment banking firm, to help
Vietnamese companies go public and raise capital through the U.S. financial
markets. For more information on Providential Holdings, visit
http://www.phiglobal.com.
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Hawk Associates, Inc.
Antonella Montagna and Frank Hawkins
Phone: 305-451-1888
E-mail: Email Contact
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