Japanese insurer to buy over 41 million shares of Bao Viet Holdings

Japanese insurer Sumitomo Life has registered to buy more than 41.4 million shares of local insurer insurance-finance-banking group Bao Viet Holdings (BVH).

Japanese insurer to buy over 41 million shares of Bao Viet Holdings
Insurance-finance-banking group Bao Viet (BVH)'s head office in Hanoi (Photo: vietnambiz.vn)

Sumitomo currently owns more than 122.5 million BVH shares, equivalent to 17.48 percent of the total outstanding voting shares of Bao Viet Holdings.

If the transaction is successful, Sumitomo will raise its total ownership in BVH to nearly 164 million shares, equivalent to 22.09 percent of the company’s capital.

Earlier, BVH approved a private placement of more than 41 million shares to increase its charter capital. These shares will be restricted for transfer within one year from the date of completion of the offering.

 

About 2.5 trillion VND from the proceeds will be used to increase capital for BVH’s member units, 200 billion VND to invest in information technology infrastructure and the rest to supplement working capital.

On the stock market, BVH has decreased sharply by 23 percent since the beginning of this year, from 87,800 VND to 68,000 VND per share. VNS

Institutional distance hindering Japanese technology transfers

Institutional distance hindering Japanese technology transfers

It is often heard that Japanese companies have difficulty doing business in and transferring technology to Vietnam because of the great institutional distance.    

1,000 Japanese officials, enterprises to visit Vietnam early 2020

1,000 Japanese officials, enterprises to visit Vietnam early 2020

The Vietnamese government gives priority to the Vietnam – Japan strategic partnership.

 
 

Other News

.
Banks await more foreign strategic investors
Banks await more foreign strategic investors
BUSINESSicon  22/11/2021 

Several banks are currently issuing dividend paying shares as well as making strong efforts in finding more foreign strategic investors to increase capital. 

Trading value at stock market reaches record high
Trading value at stock market reaches record high
FEATUREicon  22/11/2021 

Cash keeps flowing into the stock market, including during trading sessions when the VN Index falls.

Vietnam's import-export revenue forecast to hit new record in 2021
Vietnam's import-export revenue forecast to hit new record in 2021
BUSINESSicon  22/11/2021 

The Ministry of Industry and Trade (MoIT) has forecast that total import-export revenue this year may reach a new record, at between 640 - 645 billion USD, with a slight trade deficit.

Vietnam – RoK Industrial Park to take shape in Hung Yen
Vietnam – RoK Industrial Park to take shape in Hung Yen
BUSINESSicon  22/11/2021 

The northern province of Hung Yen has issued a decision on the establishment of the Vietnam – Republic of Korea Economic Cooperation Industrial Park (IP).

Land prices rise in suburban Hanoi due to planning rumours
Land prices rise in suburban Hanoi due to planning rumours
BUSINESSicon  22/11/2021 

The Hanoi property market is once again seeing a wave of increased land prices in suburban areas, thanks to rumours of some districts being developed under the model of "city within a city".

Vietnam aims to become a cashless country
Vietnam aims to become a cashless country
BUSINESSicon  22/11/2021 

Vietnam will continue to implement new technologies and policies in its bid to become a cashless country, said banking experts and policymakers in a conference on Friday discussing the current situation of cashless technology in the country.

Hard limit for credit institutions buying corporate bonds
Hard limit for credit institutions buying corporate bonds
BUSINESSicon  22/11/2021 

Credit institutions with a bad debt ratio of more than 3 per cent are forbidden to buy corporate bonds, according to the latest announcement from the SBV.

Will work-from-home continue in post-pandemic Viet Nam?
Will work-from-home continue in post-pandemic Viet Nam?
BUSINESSicon  22/11/2021 

A mixture of online and offline, or hybrid, working is being applied in most big cities in Vietnam.

Vietnam rolls out electronic invoices
Vietnam rolls out electronic invoices
BUSINESSicon  22/11/2021 

The General Department of Taxation started to issue electronic invoices (or e-invoices) yesterday in Ha Noi, HCM City, Binh Dinh, Quang Ninh, Hai Phong and Phu Tho.

Stock market to be turned into main medium and long-term capital channel
Stock market to be turned into main medium and long-term capital channel
BUSINESSicon  22/11/2021 

After 25 years of development, the Vietnamese stock market is playing a more important role in attracting capital, supporting the commercial banking system. 

Vietnam-Australia investment, trade promotion centre inaugurated
Vietnam-Australia investment, trade promotion centre inaugurated
BUSINESSicon  22/11/2021 

Vietnamese Ambassador to Australia Nguyen Tat Thanh attended a ceremony to inaugurate the Vietnam-Australia Trade and Investment Promotion Centre on November 20.

'Revenge shopping', a chance for economic recovery
'Revenge shopping', a chance for economic recovery
FEATUREicon  22/11/2021 

After shopping centers in Ho Chi Minh City reopened, long lines of people were waiting for payment at fashion shops.

EU enterprises in Vietnam optimistic again
EU enterprises in Vietnam optimistic again
BUSINESSicon  21/11/2021 

The leadership of European Union enterprises in Vietnam has become more optimistic about Vietnam’s business environment after the social distancing has ended, and commerce and investment have begun the “new normal.”

Authorities, enterprises collaborate to respond to trade remedy lawsuits
Authorities, enterprises collaborate to respond to trade remedy lawsuits
BUSINESSicon  21/11/2021 

Vietnam is currently facing 208 trade remedy lawsuits, and this figure is expected to increase sharply in the coming time, causing the market share of Vietnamese goods to be at risk of shrinking in many export markets.

Vietnam and the ‘90% economy’
Vietnam and the ‘90% economy’
FEATUREicon  21/11/2021 

While Vietnam's economy is still struggling with difficulties, the world economy is recovering clearly, after a long period of paralysis due to the impact of the Covid-19 epidemic.

Black Friday 2021 launched in HCM City
Black Friday 2021 launched in HCM City
BUSINESSicon  20/11/2021 

The shopping festival Black Friday was kicked off on November 19 in Ho Chi Minh City.

Vietnam wins big tea contract with Malaysian partner
Vietnam wins big tea contract with Malaysian partner
BUSINESSicon  20/11/2021 

Nam Son Co., Ltd and Asia Tea of Vietnam will supply tea to Kong Wooi Fong Tea Merchants Sdn Bhd based in Malaysia under a contract worth up to 2 million USD.

Decrease in in seafood exports expected as a result of new Chinese policy
Decrease in in seafood exports expected as a result of new Chinese policy
BUSINESSicon  20/11/2021 

Vietnam’s seafood exports to China are likely to decrease sharply as Chinese customs are tightening control over imports.

Consumers more prudent with post-pandemic personal finances
Consumers more prudent with post-pandemic personal finances
BUSINESSicon  20/11/2021 

After giving birth to their second daughter, Thanh Van, a 39-year-old office worker in Hanoi, had to quit her job because she could not afford the cost of hiring a babysitter after a 30 per cent pay-cut due to the COVID-19 pandemic. 

Digital transformation to create new growth engine for Vietnam's agriculture
Digital transformation to create new growth engine for Vietnam's agriculture
BUSINESSicon  19/11/2021 

As digital transformation will help overcome most of the weaknesses faced by the local agriculture sector, it should be considered a breakthrough solution for sustainable growth and development in Vietnam.

 
 
 
Leave your comment on an article

OR QUICK LOGIN