Eighty million shares of the Military Insurance Corporation will debut on the Unlisted Public Company Market (UPCoM) on May 5. — Photo dautuchngkhoan.vn

Eighty million shares of the Military Insurance Corporation will debut on the Unlisted Public Company Market (UPCoM) on May 5.

Military Insurance Corp (MIC) will trade its shares under code MIG at an opening price of VND10,000 per share. That price level puts the firm’s chartered capital at VND800 billion.

The largest shareholder of MIC is the Military Commercial Joint Stock Bank (MBBank), which holds 69.58 per cent of the chartered capital in the insurance firm.

MIC in 2016 earned revenue of VND1.9 trillion, a year-on-year increase of 19.7 per cent from 2015, and pre-tax profit of VND88 billion, an increase of 75.6 per cent.

The company targets revenue of VND2.15 trillion and pre-tax profit of VND148 billion.

MIC sells insurance products such as health insurance, accident insurance, asset insurance, and other financial business activities. — VNS