The Securities and Exchange Commission at a meeting on Thursday approved the application of Rupali Life Insurance Company Ltd to raise Tk 4.50 crore from public through issuing initial public offering.
‘The insurance company will float 4.50 lakh shares of Tk 100 each,’ SEC executive director Farhad Ahmed told reporters.
The existing paid up capital of the company is Tk 3 crore, he informed. LankaBangla Finance and Uttara Finance are the issue managers to the IPO, he added.
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