PVI Reinsurance Joint-Stock Corporation exceeds planned profit for 2020, officially list shares on HNX on 24 December

On December 24, 2020, PVI Reinsurance Joint-Stock Corporation (PVI Re) will officially list 72,8 million shares (ticker: PRE) on HNX, with a total registered value of VND 728 billion.

Reference price for the first trading date of PRE will be VND 20,000/share.

At the seminar on Introduction of Pre-listed Securities PRE – a professional reinsurer joining HNX on December 17, many investors and experts from major securities companies in Vietnam highly appreciated PVI Re's business results in the first 9 months of the year as well as the potential for growth in the coming years.

Mr. Trinh Anh Tuan – CEO PVI Re announced that although the year is not over yet, PVI Re is confident to exceed the target for 2020 in both revenue and profit. Total revenue is expected to exceed the plan by more than 5%. In particular, before-tax profit will reach a minimum of VND 180 billion, 12% higher than the plan of VND 160 billion approved by the Annual General Meeting of Shareholders from the beginning of the year. Mr. Tuan also said: “The official listing of shares (ticker: PRE) on HNX is an important milestone marking the business and governance growth of PVI Re. This is the result of persistent and consistent efforts with the goal of building a sustainable company, ensuring the interest of shareholders based on a standard and transparent governance model. After being officially listed, PVI Re will continue to invest strongly in core values that have been built and completed in the last 10 years operating in the market, which includes People, Technology and Governance System.”

PVIRe's dividend payout ratio has been maintained at over 12% since 2013. Particularly, in the last 3 years (from 2017-2019), the rate of dividend payment in cash always reached 16% and PVI Re also plan to pay a dividend of 16% for 2020.

According to recent published information, PVI Re will make the first cash dividend advance for 2020 at a rate of 9% (which means 1 share will receive VND 900) at the end of January 2021.

Source: CafeF