SAM and REE cooperate to set up investment fund overseas

Saigon Asset Management Fund Joint Stock Co (coded SAM) and Refrigeration Electrical Engineering Joint Stock Corp (coded REE) plan to sign a strategic cooperation contract for establishing SAM Management Fund Co and RNG, a domestic fund management Co that REE hold the majority of holdings.

These two companies cooperated to establish a foreign investment fund with the total value of $100 million for investing in real estate projects, the private enterprises that prepare for IPO and listed firms.

The two funds of SAM and RNG planned to meet the foreign investors in the US, Europe and Asia in early 2010.