Chartered Life reveals financial report

Chartered Life Insurance Company, an insurer which is slated to start its stock trading debut next Sunday, posted inflated earnings in the calendar year 2021.

The company posted earnings per share (EPS) of Tk 0.20 for 2021 against Tk 0.005 for the previous year, said a filing posted on the website of the Dhaka Stock Exchange on Thursday.

As per the audited annual financial statements and actuary valuation report, the company had a surplus of life insurance fund attributable to shareholders of Tk 45.1 lakh at the end of December 2021 against Tk 1.04 lakh at the end of 2020.

However, its post-IPO earnings per share (EPS) would be Tk 0.12 for the year 2021. The company reported a pre-IPO net asset value (NAV) per share of Tk 12.08 till December 2021, while its post-IPO net asset value (NAV) per share was Tk 5.97 meantime. According to the company, its pre-IPO weighted average paid-up number of shares for the year 2021 was 22,500,000.

The share trading of Chartered Life Insurance would start on Sunday next under the ‘N’ category. The trading code of the company in the Dhaka Stock Exchange (DSE) will be ‘CLICL’ and the company code will be 25755.

Earlier on July 6, the stock regulator Bangladesh Securities and Exchange Commission (BSEC) approved the company’s initial public offering (IPO) proposal.