In the latest announcement, Saigon – Hanoi Securities (SHS) has reported that it has sold all nearly 10 million shares of BHI from Saigon – Hanoi Insurance Corporation in order to recover its invested capital. These shares account for 9.98% of the company’s equity.
The transaction was carried out on February 19th. Based on the closing price of that session, SHS Securities earned approximately 239 billion VND after selling all the shares.
Also on February 19th, DB Insurance Co., Ltd reported buying 75 million BHI shares and becoming a major shareholder in BHI with a stake of 75% of the equity. Recorded in the session, BHI shares appeared in negotiated transactions with a volume exactly equal to 75 million shares, worth over 1,628 billion VND (average price of about 21,707 VND/share).
DB Insurance Co., Ltd is one of the leading non-life insurance companies in South Korea. In June 2023, the company signed a contract to acquire 75 million BHI shares from a group of shareholders including two major shareholders, SHS Securities (holding 9.98 million shares) and International Investment and Financial Consulting (holding 9.83 million shares), along with 19 other individuals. Both major shareholders have reported selling all of their BHI shares. Therefore, the transactions on February 19th are likely the transfer deal between this group of shareholders and DB Insurance Co., Ltd.
In the context of shareholder restructuring, BHI shares have been trending upward since the beginning of December 2023, reaching 25,300 VND/share at the close of February 21st, up 98% in nearly three months. Therefore, there is a high possibility that DB Insurance Co., Ltd has temporarily gained more than 269 billion VND in just 2 days of investment (excluding taxes and fees).
In terms of business performance, in the whole year of 2023, BHI recorded over 2,585 billion VND in net revenue, a slight decrease of nearly 5%. After-tax profit reached 29 billion VND, down 13% compared to the previous year.
