HDI Global SE to buy 7 million more Vietnamese insurer’s shares

In 2021, the IFC and its funds acquired a 6.29% stake in PVI from HDI.

HDI Global SE, which currently owns 91.18 million shares of PVI Holdings, listed on the Hanoi Stock Exchange as PVI, plans to acquire an additional 7 million shares between 1 to 31 July, the Investor reported.

The transactions will be made via order matching and/or put through. This move follows a visit by HDI and its parent firm, The Talanx Group, to PVI’s headquarters in January, where they promised comprehensive support for PVI.

Meanwhile, the IFC, the private sector arm of the World Bank Group, and two affiliated funds plan to sell a combined 9 million PVI shares, reducing their stake to 2.16% from 6%. 

In August 2021, the IFC and its funds acquired a 6.29% stake in PVI from HDI to strengthen PVI’s presence in Vietnam and Southeast Asia.

PVI’s other major foreign shareholder, Funderburk Lighthouse, holds a 12.61% stake. In May, the IFC divested its entire 8.2% stake in Hanoi-headquartered ABBank after a 14-year strategic partnership.