Chair of the State Securities Commission has given in principle approval to Petrolimex Insurance Joint Stock Company (PJICO) for offering shares of to public.
Kim Eng Vietnam Securities JSC would be its consulting agent.
In details, the firm was allowed to offer 37.497.591 million ordinary shares at par, including 4.017599 million for dividend payment at 12 percent ratio and 33.479992 for existing shareholders at 1:1 ratio. Total issuance value would be nearly 375 billion dong.
The firm now has 334.8 billion dong of chartered capital and operates in the fields of non-life insurance with head office at No 532 Lang Road, Lang Ha ward, dong Da district, Hanoi city.
After selling off these shares, the firm's capital will reach 709.77 billion dong.
In 2010, Vincom plans to gain 1.814 trillion dong in revenue, including 1.485 trillion dong primary insurance revenue, 15 percent increase year-on-year; pre-tax profit 87 billion dong with six billion dong insurance operation; 80.34 billion financial profit and others 0.66 billion.
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