Sena Kalyan Insurance to debut 7 Nov

Highlights 

• Sena Kalyan Insurance financials 2020
• The insurer raised Tk16cr through IPO
• IPO oversubscribed by 35.28 times
• Tk9.43cr net profit as of 2020
• Gross premium Tk58.05cr

Sena Kalyan Insurance Company Ltd will make its debut on the Dhaka Stock Exchange and Chittagong Stock Exchange on 7 November.

On 2 November, the Central Depository Bangladesh Limited (CDBL) credited the company's primary shares to investors' BO account.

The company has been oversubscribed by 35.28 times. The company has completed its subscription during 3-8 October.

Around 4.66 lakh investors applied for company shares to the tune of Tk564.53 crore.

Earlier, BSEC allowed the insurer to raise Tk16 crore from the stock market through an IPO to strengthen its business.

The firm will issue 1.6 crore ordinary shares at a face value of Tk10 each under the fixed price method.

It wants to invest the fund in the government treasury bonds, listed securities in the capital market, lands, and fixed deposit receipts (FDRs).

Out of Tk16 crore, the company will invest Tk3 crore in the government treasury bonds, Tk3.20 crore in listed securities in the capital market, Tk2.5 crore in lands, and Tk6.2 crore in FDRs.

Sena Kalyan Insurance is a fourth-generation life-insurance company which was established in 2013.

It is engaged in fire, marine, engineering, motor, aviation, and miscellaneous accident insurances.

On 31 December 2020, the net profit of the company was Tk9.43 crore, which was Tk9.83 crore in 2019.

During the time, its earnings per share were Tk3.93 and net asset per share was Tk21.09 crore.

The five years weighted average EPS was Tk2.65.

The gross premium was Tk58.05 crore, while the total asset was Tk97.83 crore in the said period.

The Sena Kalyan Insurance Company cannot declare, approve and distribute dividends before its listing. 

AAA Finance & Investment Ltd is working as the issue manager of the company.