Bidv Insurer gets approval for transforming into joint stock firm

Ministry of Finance has decided to approve Bidv Insurance Co (BIC) under Bank for Investment and Development of Vietnam (Bidv) to change the company model and to increase chartered capital. In details, BIC will be transform from 100 percent state-owned enterprise into a joint stock company. At the same time, the company will increase chartered capital via offering shares to public.

This is a part of the roadmap of BIC capitalisation plan in 2010. As scheduled, the company’s preparation works were supposed to be completed in the first half of this month so that BIC can make initial public offerings (IPO) in Q3 of 2010 and finish capitalisation process by early Q4 of this year.

Up to now, BIC has completed all the relating legal procedures. The company will work with the stock exchange for IPO preparation works in accordance with the state laws.

Tags: Bidv Insurance, Vietnam finance, Vietnam financial

Posted by VBN on Jul 7 2010. Filed under Banking-Finance, Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry