oversea stratergy investỏ
Bao
Minh Insurance Corporation announces plan for introduction of
overseas strategic investor
Ho
Chi Minh City, Vietnam — [17th] May 2007 — Bao Minh
Insurance Corporation (“Bao Minh”), the second largest general
insurer in Vietnam, today announced its plan to introduce overseas
strategic investors via a new share issuance, which should mark
another major foreign investment into Vietnamese financial services
sector.
As
part of its strategy to further strengthen its position as a market
leader, Bao Minh is planning to issue new shares to both domestic and
overseas strategic investors. With the expected infusion of capital
and global expertise, Bao Minh intends to open new product lines and
new subsidiaries.
“A
number of international insurance companies have expressed interest
in becoming our strategic partner,” Mr. Tran Vinh Duc, Bao Minh’s
Chairman and Chief Executive Officer, said, “however, we would like
to conduct a rigorous selection process in order to identify the most
suitable strategic partners.”
N
M Rothschild & Sons, an international investment bank, and
Horizon Capital Advisers, an advisory house based in Vietnam, have
been appointed as advisors to assist Bao Minh in managing the process
of introducing overseas strategic investors.