BAO MINH EXPECTS BACKING FOR SHARE ISSUE

State-owned Bao Minh, the second-largest non-life player in the Vietnamese insurance market, is poised to receive clearance from the country’s finance ministry for a share issue to fund its development. With the issue, Bao Minh is expected start operating as a joint stock business from July, though the state itself is set to retain its existing capital in the enlarged firm ahead of a proposed stockmarket listing. In confirming the changes, Bao Minh noted that it hoped to build on its recent improved performance by continuing to expand in close co-operation with existing state-controlled market leader Bao Viet.