The Vietnam Insurance Corporation (Bao Viet) has announced its three domestic strategic investors, namely Vietnam Post and Telecommunications (VNPT), Vietnam Shipbuilding Industry Corporation (Vinashin) and Vietnam Air Services Company (Vasco).

Bao Viet is expected to hold its first share auction on May 31.

The three domestic investors are expected to buy 7.22% of Bao Viet’s chartered capital and the remaining 18% is for foreign strategic investors. Bao Viet’s strategic investors have to commit to not transferring capital investment within five years.

Under the Government’s latest regulation, both domestic and foreign strategic investors are not to buy shares at a cost lower than the auction price.

Source: NLD

Translated by Vu Hung