M&A

HSBC Insurance buys stake in BaoViet

By Sameera Anand | 14 September 2007
Keywords: hsbc insurance | baoviet | hsbc

Subscriber Content Preview.
.

HSBC pays $254 million for 10% of Vietnam's leading insurance firm, with an option to increase its stake to 25% over five years.

HSBC Insurance (Asia-Pacific) has signed a deal to buy 10% of Vietnam Insurance Corporation, known as BaoViet, for Vnd4,121 billion ($254 million).

The implied subscription price equates to Vnd71,918 per share, the same price at which BaoViet sold shares in a domestic initial public offering in August 2007.

The allotment to HSBC is part of the Vietnam government's plan - following a similar approach to that already witnessed in China - to sell equity in SOEs to the private sector, via IPOs and strategic stake sales. It will be effected by HSBC buying 57,302,661 shares, ...

To continue reading this article, .

You need a subscription to view this article
Articles older than 48 hours are available to subscribers only.

Log in below or buy a subscription to enjoy unlimited access to FinanceAsia.com's quickly growing 13,000 article database.

Username:

Password:

Remember me | Forgot your password?

Nomura shakes it up and brings back Jesse Bhattal

Nomura appoints Jesse Bhattal as president and COO of its global wholesale business, and brings his former Lehman colleague Philip Lynch back to the region as CEO for Asia ex-Japan.

By Lara Wozniak | 18 March 2010

BoA Merrill poaches Charles Alexander from Standard Chartered

Bank of America Merrill Lynch lures Charles Alexander to head corporate banking coverage for Asia-Pacific, just two years after he joined Standard Chartered.

By Sameera Anand | 18 March 2010

CCT brings second Reit CB in three days

CapitaCommercial Trust sells S$225 million worth of five-year CBs with the support of a few large investors.

By Anette Jönsson | 18 March 2010

Equities	Debt
M&A	Moves People Moves Business Moves
News & Views View Point Macro & Markets Corporate	Banking Structured Products FX Private Banking
Editor's Desk Awards Co-published Editor's Desk Polls Book Review Private Capital	Conference Highlights
CorporateTreasury Cash Trade CorporateTreasury Moves Risk