Hamilton, 11 June 1997
The Listing Committee of The BSX announced that it has approved the listings of the Knight SC Mekong Fund Ltd. and the Mexico Private Equity Fund Ltd.
The Knight SC Mekong Fund, incorporated in the Cayman Islands as a closed end fund, will seek to obtain long-term capital appreciation through investing mainly in unlisted companies in the Mekong Region, namely Cambodia, China (Yunnan Province), Laos, Myanmar, Thailand and Vietnam. Revaluation of assets will be obtained through a listing on either their respective national securities exchanges or overseas markets or through sale to other corporate and/or institutional investors.
The Fund will be managed by Knight SC Mekong Capital Management Limited, a company incorporated in the Cayman Islands as a subsidiary of Knight South China Holdings (Cayman) Limited, a joint venture between Knight Asia Limited and South China Group. The manager was specially formed to manage the Fund and other future funds.
The Mexico Private Equity Fund was incorporated in the Cayman Islands and will seek to obtain long-term capital appreciation through private equity investments in export oriented companies. The Fund will invest primarily in manufacturing and processing companies that may benefit from the efficient production environment and labour market in Mexico. Investments by the Fund may take the form of equity securities, debentures or other debt securities convertible into the equity of companies which may be domiciled within or outside of Mexico.
The Fund will be managed by Maguey Management Limited, a specialist management company domiciled in the Cayman Islands. Maguey is majority owned by its principal executives, William Borlaug and Robert Kretschmar, both of whom have worked with other international private equity investment firms for several years and have specific experience establishing and managing business ventures in Mexico.
Greg Wojciechowski, COO of The BSX said, " We are delighted to welcome The Knight SC Mekong Fund and The Mexico Private Equity Fund to The BSX. The addition of these Funds complements our rapidly growing emerging market fund sector and expands the geographical regions accessible by investors through The BSX."
Mr. Jeremy King, director of the Knight SC Mekong Fund said, "We appreciate the support of The Bermuda Stock Exchange in the Listing of The Knight SC Mekong Fund. Knight SC is enthusiastic about the potential of the Mekong Region which will no doubt be enhanced by the recent admission of Cambodia, Laos and Myanmar to ASEAN, the development of these countries' huge natural resources will accelerate the assistance of their ASEAN neighbours to the South and the ongoing interaction with the China market to the North."
Mr. Kretschmar, director of the Mexico Private Equity Fund and the management company said, "We are very pleased that the Fund will be listed on The Bermuda Stock Exchange. The BSX has made great strides to establish itself as a world-class exchange for international investment funds. We believe that the pioneering spirit of The BSX, and its emphasis on electronic trading and communication, will be very beneficial to the Fund and its shareholders."
Subscriptions to both funds are restricted to Qualified Investors only and may not be traded in lots with an initial value of less than U.S. $100,000.
Both Fund's were sponsored to listing by Butterfield Securities (Bermuda) Ltd., a subsidiary of The Bank of N.T. Butterfield & Son.
The BSX was established in 1971 and is now the world's premier offshore electronic securities market. Since January 1996, The BSX has increased its market capitalisation by more than $35 billion, or almost twenty five times its year-end 1995 capitalisation of $1.5 billion; listed innovative investment vehicles like depositary receipts and emerging market funds; and has moved closer to becoming a 24-hour international electronic securities market.
Fund information, including the latest NAV, is available on the Bloomberg system for the Funds under tickers KNIMEKA OS
For further information please contact:
The Knight SC Mekong Fund Limited.
The Mexico Private Equity Fund Ltd.
The BSX
Mr. Jeremy King at (852) 2509-9000.
Donna Lambert at 617-239-8128.
Edelman Public Relations Worldwide
441-292-7212 or visit www.bsx.com
Darren Brandt at 212-704-4449