BIC to list in HCM bourse on 6th September 2011
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. BIC 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.