Baoviet Securities (BVS), a subsidiary of Bao Viet, sold all 2,137,500 shares 88.4 % above the initial bid price set by the company. Baoviet Securities is now valued at $88.5 mio.
Foreign investors bought 1,525,732 shares, or 10.2 percent of the company, it said without giving further details.
State-run Vietnam Insurance Corporation, also known as Bao Viet and which is the parent firm of Baoviet Securities, said in January it would diversify into banking, financial leasing, real estate and public health insurance.
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