IPO approved of Army Welfare Insurance

Sunbd Desk || Published: 2021-08-11 14:05:05 || Updated: 2021-08-11 14:05:05

The initial public offering (IPO) of Sena Kalyan Insurance Company Limited has been approved by the Bangladesh Securities and Exchange Commission (SEC).

The approval was given at the 786th commission meeting of BSEC on Wednesday (August 11). This information has been given in a press release signed by BSEC Executive Director (Current Responsibilities) and Spokesperson Mohammad Rezaul Karim.

It is learned that Sena Kalyan Insurance will raise Tk 16 crore through IPO by issuing 16 million ordinary shares worth Tk 10 each.

With the money raised, the company will spend on purchasing government securities, investing in listed securities, purchasing its own office space, fixed deposits in scheduled banks and IPO expenses.

According to the company’s financial report for the financial year ended 31 December 2020, the net asset value (NAVPS) without revaluation was Tk 21.09 and the earnings per share (EPS) was Tk 3.93 and the average profit for the last five years was Tk 2.65.

AAA Finance and Investment Limited is in charge of issue management of the company in the IPO.

Sunbd/NJ

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