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F88 Investment secures $50m Lending Ark private credit loan

Vietnamese financial firm F88 Investment JSC has secured a $50m private loan form Lending Ark Asia Secured Private Debt Funds to help support the expansion of its presence in the country’s non-banking sector, according to a report by Bloomberg.

The report cites F88 Chairman and CEO Phung Anh Tuan as confirming the loan, the second provided by Lending Ark to F88 in ten months and the latest example of an upswing in Asian private credit market activity.

According to Tuan, Hanoi-based F88, which had earlier targeted a market capitalisation of about $1bn via a 2024 initial public offering, is now seeking a stock listing by the end of 2025 at the earliest.

While Tuan also revealed that F88 recorded a first-half loss of $15.3m, he said the company expects its loan portfolio to rebound in the current half of the year and help the firm swing back to profitability for 2023.

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