BIDV Insurance to list in HCM bourse

The BIDV Insurance Corporation will list 66 million of its shares, valued at VND660 billion (US$32 million), on the HCM Stock Exchange on September 6 under the code BIC.

The reference price will be VND11,500 ($0.56) per share.

BIC is the insurance arm of the Bank for Investment and Development of Vietnam (BIDV), which holds a 82.3 percent stake in the company.

It posted a before-tax profit of over VND45.5 billion ($2.2 million) in the first half of this year, a year-on-year increase of 25 per cent and equivalent to 45.5 percent of its annual profit target.

Currently, there are five insurance companies listing on the HCM City bourse, including Bao Viet Holdings (BVH), PVI Holdings (PVI), the Post and Telecommunication Insurance Corporation (PTI), the Vietnam National Reinsurance Corporation (VNR) and the Petrolimex Insurance Company (PGI).

tuoitrenews, VNA

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