BSEC Approves Bangladesh National Insurance Company IPO. Bangladesh National Insurance Co. Ltd. (BNIC) is one of the top wide-ranging insurance companies in Bangladesh. The Company was included as public limited company on April 8, 1996 under the companies’ act 1994. It is licensed under Insurance Act, 1938. . It is licensed to run all types of general insurance business other than life insurance business. It got certificate of commencement of business on April 8, 1996.
BSEC Approves Bangladesh National Insurance Company IPO
Bangladesh Securities Exchange commission (BSEC) has approved Bangladesh National Insurance Company IPO on 12th May, 2015. As a result the company will raise Tk 17.70 crore from the public at ordinary share. Its offer value is 10tk without any premium. National Insurance Company will collect BDT 17.70 crore from the general public. This decision is made by MR Khairul hossain, the commission of National Insurance Company at its regular meeting. Bangladesh National Insurance Co. Ltd. IPO Application Form and Result will be published in our website.
BNIC will use the IPO money to invest in fixed deposit receipts, treasury bonds, repay bank loan, IPO Expenses and in other planned sectors.
Prime Finance Capital Management is the issue manager of the IPO.
Bangladesh National Insurance Company IPO
The company’s earnings per share (EPS) is Tk 1.07 with a net asset value per share of Tk 15.65 (without extraordinary income) as of July 2014.
Important Info at a glance:
Bangladesh National Insurance Company’s total share is1.77 crore. Its market lot is 500 and 10 tk Per share. Total taka is 5000 thousand for each lot and total number of lots is 35400.
EPS: BDT 1.07
NAV: BDT 12.65
General public 60%:21240 lots
Affected public 20%:7080 lots
NRB 10%:3540 lots
Mutual Fund10%:3540 lots
According to the new rule of BSEC the investors who trade on credit will not receive cash dividends directly. The cash will be adjusted by the loans in the beneficiary owner’s accounts of the investors. After that the cash will be deposited through a stockbroker or a stock dealer.
Address of Head office and Registration office:
ww tower; 68, Motijheel C/A (Level-15); Motijheel; Dhaka; 1000; Bangladesh
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