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Shares of Meghna Insurance were locked in the upper circuit at 10 per cent on debut on the Dhaka Stock Exchange on Thursday.
The stock had closed at Tk 12.10 over its issue price of Tk 10 on the debut day.
In March this year, the Bangladesh Securities and Exchange Commission (BSEC) approved the IPO worth Tk 16 crore under the fixed price method.
Of the fund, it proposed to invest Tk 3.20 crore in the capital market, Tk 2.40 crore in the treasury bonds, and Tk 9.52 crore in FDR and Tk 87.50 lakh to bear IPO expenses.
The company has reported its net asset value (NAV) of Tk 16.41 (without revaluation) as per the audited financial statement for the year ended on March 31, 2021. The earnings per share (EPS) was Tk 1.83 for a three-month period that ended on March 31, 2021, while the weighted average EPS for the last five years was Tk 0.56.
The pre-IPO paid-up capital of Meghna Insurance Company is Tk 24 crore. With the listing of the company, the number of listed insurers stands at 54.
