BIDV Insurance to make IPO

BIDV Insurance Co will make an initial public offering of 11.5 million shares on the Ha Noi Stock Exchange on August 5 at an opening price of VND10,200 (US$0.54) per share. The shares will then begin regularly trading on the exchange in the first quarter of next year.

BIDV Insurance earned VND346 billion ($18.2 million) in the first six months of this year, an increase of 69 per cent over the same period last year, while its profits during the period rose by 81 per cent to VND36.3 billion ($1.9 million).

It is the sixth largest non-life insurer in Viet Nam, with total assets of nearly VND3.3 trillion ($172.1 million) as of June 30, 175 per cent higher than at the same time last year.

Tags: BIDV Insurance IPO, vietnam stock, Vietnam stock market

Posted by VBN on Jul 24 2010. Filed under Insurance, Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry