Chartered Life Insurance Company Limited on Sunday opened subscriptions for Tk 15 crore in an initial public offering (IPO) under the fixed price method.
Investors will subscribe to the IPO shares through the electronic subscription system until September 29.
As per the regulatory approval, the life insurance company will issue 1.5 crore ordinary shares at a face value of Tk 10 each under the fixed price method.
The company will invest the IPO proceeds in government Treasury bonds, fixed deposit receipts (FDR), and capital markets, in addition to bearing the IPO expense.
According to the financial statement that ended on December 31, 2021, its life insurance fund stood at Tk 35.21 crore, earnings per share (EPS) Tk 0.20, and net asset value (NAV) per share Tk 12.08.
On July 6, The Bangladesh Securities and Exchange Commission (BSEC) approved the Chartered Life Insurance Company Limited’s IPO. The company is not allowed to declare, approve or disburse any dividend before listing on the stock market, as per BSEC conditions.
AAA Finance and Investment Limited, AB Investment Limited, and Trust Bank Investment Limited are responsible for managing the company's issue in the IPO.
Chartered Life is a fourth-generation life insurance company, established on July 29, 2013.
