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PRVH up 44%Press Release Source: Providential Holdings, Inc.
Providential Holdings Announces Joint Venture to Establish Equity Funds and Provide Financial Advisory Services in Vietnam
Thursday November 16, 11:00 am ET
LOS ANGELES, CA and HO CHI MINH CITY, VIETNAM--(MARKET WIRE)--Nov 16, 2006 -- Providential Holdings, Inc. (OTC BB:PRVH.OB - News) (German Stock Exchanges: PR7, WKN 935160), a provider of international advisory services specializing in mergers and acquisitions, announced today that it has signed a joint venture agreement with the Thanh Viet Fund Management Company (TVMC) (www.thanhviet.com.vn).
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Under the terms of the agreement, the two companies will work closely together to raise and establish Vietnam equity investment funds and provide advisory services to assist Vietnamese companies list on foreign exchanges, particularly in the United States.
Initially, the agreement covers raising up to $12.5 million to form a growth fund, Saigon A2, focusing on Vietnam-listed companies. The fund is expected to close by the end of December 2006 with up to 49% of foreign investment capital.
TVMC and Providential also are seeking to establish the Saigon Real Estate Investment Fund and raise up to $100 million capital for the fund. The fund is expected to close in the first quarter of 2007 with 49% of total capital from foreign investors. The fund will focus on real estate development projects such as housing complexes, office buildings and shopping centers.
Chairman and CEO Henry Fahman, said, "Our alliance with TVMC and Chairman Vo Van Tai will help provide investors with favorable opportunities to invest in the rapidly growing Vietnamese economy. With a growth rate in Vietnam estimated at an estimated 8% a year over the next decade, we believe there will be appealing growth vehicles for serious investors. Through these new funds and taking Vietnamese companies public in the United States, we intend to establish structures for foreign capital investors to benefit from the enormous growth ahead."
Vo Van Tai, chairman of TVMC, said, "Vietnam's growing economy, dynamic private sector, huge reserves of idle funds held by commercial banks and the public and buoyant stock market provide a good foundation to attract investors. Many investors are showing keen interest in our funds and activities. We are delighted to be working with Henry Fahman and his people at Providential. They have excellent access to capital as well as the American investment community where we expect to build strong support for our activities."
TVMC was founded by Ho Chi Minh City-based TVH Corporation, Phuong Nam Commercial Bank (PNB) and a number of local investors. TVMC currently runs the Saigon Fund A1, which has about $2 million under management. Tai is a former principal with Dragon Capital.
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 independent energy. The company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com. 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.
A profile for investors can be accessed at http://www.hawkassociates.com/prvhprofile.aspx.
FMNJ - with Cerro Rico - the worlds largest Silver Mine -
was under accumulation today also, as it has been since about the 8th of this month pretty much every day the buy volume has out numbered the sell volume in that time, being the volume is low it is normal for the dealers to make it appear to not show it, but is easy now days with stockcharts .com or just simlpe math and a little instinct. The stock is bulling up a bit. Wish all of you well, I sure wouldn't settle for anything less than a fat profit -
thanks americano -
http://www.investorshub.com/boards/board.asp?board_id=2957
http://www.investorshub.com/boards/board.asp?board_id=5406
RMTR breakout continuing...jmho and Glta
MENV!!! READY TO BLAST OFF!!!! YES!!!!
Solutia Inc on breakout alert!
SOLUQ... just saw this one this morning... wow.. it is climbing slow and steady... a friend linked me to this one... we'll see if this is good... keep watching!
NSOL Ready to make a bull crossover today?
NNSR: RSI bull crossover and breakout
EMED: Consolidated after breatout nice then took off friday:
UDHI: RSI way overbought but it does not seem to be mattering any...
CNCN: RSI bull cross friday
ASY came off of overbought friday...closed with a bearish candle...jmho...
TGC RSI Oversold for awhile now hettygreen...could see a pop here and had alittle one friday...jmho and glta
PZA Continues...
Wallstreetman.....
Thnx and hope you can stop by often and hope it helps people out and feel free to contribute any time you want...just getting it going right now...thnx and GLTY
This Board is a great idea,lots of Luck Gateway Stocks
TGC is experiencing a big Dip imo.
One thing about the charts mostly posted here are that they are before the market opens and can always change...one way to play a breakout is to buy the dips when they come IMO...GLTA
PTON: RSI Overbought right now but on a tear...
TAGS: Tarrant Apparel...looks ready to run...crossed into bullish RSI the other day also IMO...GLTA
Looks like it lowman looking at that chart of yours...will be looking more into it...glta
Been watching TRSI lately, Gatez? It's gonna be breaking out 'fore too long. Just started Phase 1 of their business plans.
It's a low float O&G bottom play that I think has alot of potential. I strongly recommend it since they will be producing decent revenue very soon, has an agressive business plan, and only has a MC of $1.5M at present. Watch for a progress update PR on Monday, too. Looks like a pretty safe play, at these levels. Check out the board.
http://www.investorshub.com/boards/board.asp?board_id=6627ed.
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This board is to make aware of stocks breaking out, entering Blue Sky territory
Please post stocks also that you believe are ready to Breakout or go blue Sky so we can get in before the runs also.
Post your alerts/charts below.
GLTA
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