A new generation insurance company, Sena Kalyan Insurance Company Limited (SKICL) has shown interest in listing on the stock market.
Approval has been sought by the insurance company from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk 31 crore through an initial public offering (IPO).
A concern of the Sena Kalyan Sangstha (SKS), Sena Kalyan Insurance, under the Bangladesh Armed Forces, wanted to raise the fund by issuing 1.6 crore ordinary shares at a face value of Tk 10 each to raise Tk 16 crore.
Officials from the BSEC have stated that the company submitted its draft prospectus, with various documents, to the stock market regulator as well as the Dhaka and Chittagong stock exchanges for getting approval for its IPO.
Based on the draft prospectus, the earnings per share (EPS) of the bank was Tk 3.93 in 2020.
AAA Finance and Investment Limited is the issue manager of the company. The general insurance company commenced its business on September 10, 2013.