Desh General Insurance Limited’s application for permission to raise money from the capital market started today, Sunday (February 14). Applications will be accepted until February 18.
Earlier, the IPO was approved at the 651st regular meeting of the Bangladesh Securities and Exchange Commission (BSEC) on December 2.
According to sources, through the IPO, the company will raise Rs 16 crore by selling 1.60 crore ordinary shares with an issue price of Rs 10. This will cover government treasury bonds, fixed deposits, capital market investments and IPO costs.
For the financial year ended June 30, 2019, the company’s earnings per share (EPS) was 1 37 paise. The net asset value per share (NAV) is 11 rupees 72 paise.
Note that among the eligible investors who are willing to contribute at the end of the previous 5 working days from the date of commencement of subscription of common shares of the company through electronic subscription system, in case of recognized Pension Fund and Recognized Provident Fund, In the case of investors, it was decided at the meeting that the listed securities should have a minimum investment of Rs. 1 (one) crore at the market price. However, in order to protect the interests of the investors, the date of receipt of subscription will be fixed in February, 2021.
Prime Finance Capital Management Limited is the issue manager of Desh General Insurance.