The IPO application date has been fixed for Desh General Insurance Company Limited, an insurance company approved to enter the capital market through an initial public offering (IPO). The company’s IPO application will start on Sunday, February 14. Will run until Thursday, February 18th.
This information has been known from the company sources.
Earlier, the capital market regulator Bangladesh Securities and Exchange Commission (BSEC) had directed the company to set February 2021 as the date for receiving donations to protect the interests of investors.
It further said that from the date of commencement of subscription of ordinary shares of the company through electronic subscription system, at the end of the previous fifth working day, among eligible investors willing to pay subscription, in case of recognized pension fund and recognized provident fund. Securities must have a minimum investment of Rs 1 (one) crore at market price.
It may be mentioned that the commission has approved the proposal to issue 16 million ordinary shares worth Tk 10 to Desh General Insurance through IPO. The company will raise Tk 16 crore through IPO. The money raised will be used for government treasury bonds and fixed deposits, capital market investments and initial public offering.
Excluding the company’s audited financial statements as on December 31, 2019, the net asset value excludes 11 rupees 72 paise. EPS per share is 1 taka 36 paise.
Prime Finance Capital Management Limited is in charge of issue management of the company.