Insurance platform operator BVG launches IPO in Thailand

The funds will be used to develop AI technology.

Insurance platform operator for the automotive and healthcare industries, Blue Venture Group (BVG) has launched an initial public offering in Thailand.

BVG will offer up to 157.50 million shares to the public starting today until 10 February. 90 million are newly issued shares of BVG whilst another 67.50 million are from its parent company, Thai Reinsurance.

The funds raised through the IPO will be used for the development of artificial intelligence (AI) technology, to bring about the ‘digital transformation in the insurance and healthcare business’.

The group reported that its revenue grew from $11.47m  in 2019 to $11.59m and $11.94m in 2020 and 2021, respectively.