BSEC approves Pragati Life Insurance rights offer

Bangladesh Securities and Exchange Commission (BSEC) has approved a rights share proposal of Pragati Life Insurance Ltd.

The company will raise 230,273,265 taka by issuing 15,351,551 right shares.

As per the BSEC approval, the company will issue one rights share against each existing share (1R:1) at an offer price of 15 taka each including a premium of 5 taka per share, according to the Dhaka Stock Exchange (DSE) website on Sunday.

The company is issuing rights share to cope with business growth and strengthen the capital base.

The record date, the period of subscription and the list of banker to the issue will be notified within three working days as per the BSEC (Right Issue) Rules, 2006.

sik