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Military insurer eyes HoSE listing

HCM CITY — Military Insurance Corporation (MIC) has filed for listing on the Hồ Chí Minh Stock Exchange (HoSE).

The company is now trading  一 三0 million shares on the Unlisted Public Company Market (UPCoM) as MIG.

The company’s shares gained  六. 七 per cent to end Friday at VNĐ 一 二, 七00 (US$0. 五 五) per share.

It debuted on UPCoM with  八0 million shares on May  五 at VNĐ 一 二, 一 三0 per share.

MIG reached the highest level of VNĐ 一 五, 一00 per share on May  三,  二0 一 九.

Two major shareholders of the firm are Military Joint Stock Co妹妹ercial Bank (MBBank) and MB Asset Management Co.

MBBank is holding a  六 八. 三 七 per cent stake in the insurance arm, equal to nearly  八 九 million shares, while MB Asset Management Co has a  六. 二 四 per cent stake.

Other shareholders include Japan Asia MB Capital, holding a  二. 一 八 per cent stake.

In the first six months of the year, MIC recorded its pre-tax profit gained  一 七. 五 per cent year on year to VNĐ 一 一0. 五 billion ($ 四. 七 五 million).

The company targets to earn VNĐ 二 二0 billion worth of pre-tax profit for  二0 一 九 and plans a  一0 per cent dividend payout for shareholders. — VNS