The two insurance companies Northern General Insurance Company Limited and Standard Insurance Limited will make debut tomorrow (Tuesday) at both the bourses of the country.
The board of directors of the Dhaka Stock Exchange (DSE) in its meeting held Sunday approved the listings and fixed the trading date of the two companies.
Both the insurance companies will float 0.9 million ordinary shares with the face value of Tk 100 each to raise Tk 90 million from the stock markets.
The pre-IPO (initial public offering) paid up capital of the Northern General Insurance, which was incorporated in April 8,1996 was Tk 60 million.
As of December 31, 2007, its earning per share (EPS) is Tk 20.53 and net asset value (NAV) Tk 152.15 per share, according to the prospectus.
The fund raised through IPO will be utilised to strengthen the capital base of the Northern General Insurance.
The pre-IPO paid up capital of the Standard Insurance that eas incorporated in November 3, 1999 was Tk 60 million.
As of December 31, 2007, its earning per share (EPS) is Tk 19.52 and NAV Tk 126.70 per share, according to its prospectus.
The Standard Insurance will strengthen its capital base and expand its business utilizing the fund raised through IPO.
The subscription of the Northern General Insurance opened on September 14, 2008 and closed September 18 for resident Bangladeshis and September 27 for non-resident Bangladeshis.
The subscription of the Standard Insurance opened on July 7, 2008 and closed September 11 for resident Bangladeshis and September 20 for non-resident Bangladeshis.
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