Home ›› 05 Dec 2021 ›› Stock
Newly listed Sena Kalyan Insurance Company Limited (SKICL) has set a record of the longest ever rally by any individual stock in the history of capital markets.
Its shares were frozen in the upper limit for the 20th straight session on Thursday, surpassing the previous record made by Robi that had a 12th consecutive positive session since its debut in December last year.
SKICL, a subsidiary of Sena Kalyan Sangstha (SKS) operated by the Bangladesh Armed Forces, debuted on the stock exchanges on November 7, 2021.
After 20 sessions on Thursday, the company’s share closed at Tk 65.50 on the Dhaka Stock Exchange, an impressive rise of 555 per cent or 6.55 times from Tk 11 settled on the first trading day.
There is no price-sensitive information for the recent unusual price hike of the issue.
The general insurers earned Tk 8.28 crore in net profit in the January-September period of this year.
During the period, the company’s earnings per share (EPS) stood at Tk3.45, which was Tk2.07 considering Pre-IPO paid-up shares. In the July-September quarter, its net profit was Tk1.68 crore and EPS was Tk0.70. The pre-IPO net asset value per share is Tk23.64 as of 30 September 2021.
On August 11, Sena Kalyan Insurance got IPO approval and raised Tk 16 crore from the capital market. It issued 1.80 crore shares at a face value of Tk 10 each.
As per the financial statement for the year ended on December 31, 2020, the company’s net asset value per share is Tk 21.09 (without revaluation) and the earnings per share of Tk 3.93 while the weighted average EPS for the last five years was Tk 2.65.
The insurer will spend the proceeds on fixed deposits, investment in the capital market, purchase of floors, and initial public offering.
Sena Kalyan Insurance was established in 2013. Its main business areas are fire, marine, engineering, motor, and aviation insurance. In addition, it has six branches located across the country, of which, four are situated in Dhaka, and the rest in Chattogram and Khulna.
