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PYN Elite Fund becomes major shareholder of MIG

The Saigon Times

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HCMC – The Finnish equity fund PYN Elite has become a major shareholder of Military Insurance Company after it raised its ownership from 4.99% to 5.29% through its acquisition of 500,000 MIG shares.

The fund now holds over 8.7 million MIG shares.

PYN Elite Fund, established in 1999, is managed by PYN Fund Management. It has invested in Southeast Asian stock markets for 24 years.

In 2022, the company’s revenue surged 32% over the year-ago period to over VND5.6 trillion, while its pre-tax profit topped VND200 billion and its profit after tax reached VND159.4 billion.

MIG has charter capital of VND1.3 trillion and employs around 2,000 employees. In its development strategy, the firm aims to become one of the three leading non-life insurers in Vietnam by 2025.

MIG closed the trading session today, March 23, up 1% to VND15,000 and reported a matching volume of 183,100.

With 179 winners and 195 losers, the benchmark VN-Index of the Hochiminh Stock Exchange maintained its winning streak for the third session, gaining 4.56 points, or 0.44% higher than yesterday’s session, at 1,045.1.

Trade on the southern bourse amounted to nearly VND7.8 trillion with 431.4 million shares changing hands, down 6% in volume and 10% in value against the session earlier. Over 61.8 million shares traded in block deals contributed over VND1.2 trillion to the overall value.

Bank and financial service stocks were the most actively traded stocks. SHB took the lead by liquidity with a matching volume of over 36.7 million, followed by VPB and VND with 22.8 million and 22 million shares changing hands.

The Hanoi exchange saw 67 stocks rising and 69 others dipping. The HNX-Index lost 0.64 points, or a fractional 0.31%, versus the previous session at 203.32, with nearly 48.3 million shares valued at around VND600 billion traded.

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