MIC stopped trading on UPCOM from Wednesday. — Photo courtesy of MIC

Military Insurance Company (MIC) will soon move its 130 million shares from the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE).

It stopped trading on UPCOM from Wednesday.

The company’s shares ended Wednesday at VND17,800 (US$0.78) per share. Since early 2020, its shares, coded as MIG, soared 60 per cent in price.

It debuted on UPCoM with 80 million shares on May 5 at VND12,130 per share.

In the first nine months of 2020, MIG earned VND122.7 billion in pre-tax profit, completing 84 per cent of the profit target assigned for the year. Post-tax profit reached VND98 billion, down 15 per cent over the same period of 2019.

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

MBBank is holding a 68.37 per cent stake in the insurance arm, equal to nearly 89 million shares, while MB Asset Management Co has a 6.24 per cent stake.

Other shareholders include Japan Asia MB Capital, holding a 2.18 per cent stake. — VNS