BSEC rejects Agrani Insurance's right share offer

The securities regulator has not approved Agrani Insurance Company Ltd's right share offer due to failure to submit a Credit Information Bureau (CIB) report.

The Bangladesh Securities and Exchange Commission (BSEC) said in the report filed at the stock exchanges that the general insurer did not submit a clear CIB report of its directors, which was a violation of securities rules.

Earlier, Agrani Insurance had decided to increase its capital by issuing one right share against three existing shares. It also got shareholders' approval at the extraordinary general meeting for issuing the right shares.