Meghna Life directors to buy 6 lakh shares
They will do this through the block market of the stock exchanges within 30 days
Three directors of Meghna Life Insurance Company Limited will buy its 6 lakh shares worth Tk3.78 crore.
They will do this through the block market of the stock exchanges within 30 days.
Among the company directors, Sharmin Nasir and Dilruba Sharmin will buy 1 lakh shares each.
Also, Karnaphuli Insurance Company Limited, one of the corporate directors of Meghna Life, will buy 4 lakh shares.
They will buy the shares at the current market price.
The closing price of each share of Meghna Life on Tuesday was Tk63 at the Dhaka Stock Exchange, while its highest price was Tk64.80 within the last 12 months.
In the first half of this year, Meghna Life's life revenue grew by Tk28.19 crore, taking its total life insurance fund to Tk1,762.59 crore.
The revenue fell by Tk10.30 crore to Tk1,676.43 crore in the same period of the previous year.
In the second quarter of 2020, the company's life revenue rose by Tk17.39 crore, bringing its total life insurance fund to Tk1,808.16 crore.
The revenue dropped by Tk29.99 crore to Tk1,716.73 crore in the same period of the previous year.
The company paid a 20% cash dividend to its shareholders for the last financial year ending on December 31, 2019.
Meghna Life was listed on the stock exchanges in 2005 and its paid-up capital is Tk33.52 crore.
Sponsors and directors jointly hold 24.73% stake in the company, institutional investors 34.20% and general investors 41.07%.
Also, Rupali Life Insurance Company Limited's sponsor Abdullah Jamil Matin has expressed his intention to buy its 22,000 shares at the prevailing market price.
