80 million AIC shares of Aviation Insurance Corporation (VNI) were officially traded on UPCoM from January 8 with reference price of VND 10,400 / share.

Aviation Insurance Corporation. (Photo: VNI).

The Hanoi Stock Exchange (HNX) has just announced that 80 million AIC shares of the Aviation Insurance Corporation (VNI) will be officially traded on the UPCoM market from January 8. Reference price on the first trading day is 10,400 VND / share, amplitude 40%.

Aviation Insurance was established in 2008, is a unit operating in the field of non-life insurance, reinsurance and financial investment with insurance products. The first founding shareholders include Vietnam Airlines (Vietnam Airlines), Vietnam Coal and Mineral Group (VINACOMIN), Vietnam Machinery Erection Corporation (LILAMA) …

According to the annual report of 2019, individual shareholders make up the majority of the shareholder structure with the proportion of 88.34%. Major shareholders account for 14.63%.

Recently, Aviation Insurance has just issued 20 million additional shares to the public, thereby increasing its charter capital from VND 800 billion to VND 1,000 billion.

Regarding business results, in the first 9 months of the year, net revenue from insurance activities of the company reached nearly 837 billion VND, up 34.3% over the same period last year. Profit before tax reached VND 4 billion, up 31%.

As of September 30, 2020, the total assets of Aviation Insurance reached VND 2,516 billion, an increase of 21.2% compared to the end of last year. Cash and cash equivalents increased sharply from 187 billion dong to 297 billion dong (58.8% increase).

Besides, the company also diverted financial investment from short term to long term investment. Specifically, the short-term financial investments decreased by 5% to VND 436 billion; meanwhile, long-term financial investment increased by 35.7% to 587 billion dong.

At the end of October 2020, the State Securities Commission issued a decision to sanction an administrative violation of Aviation Insurance with a total amount of 405 million VND.

In which, Aviation Insurance was fined 350 million VND for not registered securities transactions and 55 million VND related to BEL stock trading of Bien Hoa Electronics JSC.

Source: vietnambiz.vn – Translated by fintel.vn