OTC Market News

AgriBank Insurance Co. to list shares on UPCoM   2009-07-15 - VNSN

Do Minh Hoang, temporary general director of AgriBank Insurance Joint Stock Co (ABIC) has revealed that the company would start listing shares on UPCoM from July 16.

ABIC has chartered capital of 380 billion dong, in which the key founding members hold 75 percent of the capital and the rest 25 percent is owned by individuals and organisations.

Last year, the company reached total revenue of 180 billion dong, the company set up standby fund of 57 billion dong, in accordance with Ministry of Finance's regulations and it earned pre-tax profit of 12.8 billion dong. The company opened eight branches and 16 provincial transaction offices.

ABIC in the first five months of this year hopes to reach revenue of 230 billion dong and earn profit of 25 billion dong.

It's expected that the company will open four new branches and 20 offices in provinces all over the country.