DSE allots Sena Kalyan’s IPO shares

The Dhaka Stock Exchange (DSE) has allotted the initial public offers (IPO) of Sena Kalyan Insurance Company (SKICL) among the primary investors on Monday, on a pro-rata basis through the electronic subscription system (ESS).

DSE Managing Director Tarique Amin Bhuyan, SKICL MD and CEO Brig Gen (Retd) Shafique Shamim, DSE Deputy General Manager Md Abdul Latif and other high officials attended the share allotment ceremony.

The SKICL has become the third company to enter share trading by allotting IPO shares under the newly introduced pro-rata method.

Pro rata is a Latin term used to describe a proportionate allocation. It essentially translates to “in proportion,” which means a process where whatever is being allocated will be distributed in equal portions.

On allotment function, the DSE MD said the method enabled the authorities to allot the IPO shares within a short time at a low cost. He termed the development as a big achievement in digitalisation of the capital market.

Brig Gen (Retd) Shafique Shamim said his company is a new comer in the capital market and therefore sought cooperation from all.