Sena Kalyan Insurance posts Tk8.28 crore profit in Jan-Sept
Sena Kalyan Insurance Company Ltd earned Tk8.28 crore in net profit in the January-September period of this year.
During the period, the company's earnings per share (EPS) stood at Tk3.45, which was Tk2.07 considering Pre-IPO paid-up shares.
In the July-September quarter, its net profit was Tk1.68 crore and EPS was Tk0.70.
Consequently, the pre-IPO net asset value per share is Tk23.64 as of 30 September 2021.
The company 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 accounts.
The company has been oversubscribed by 35.28 times. It completed its subscription on 3-8 October.
Around 4.66 lakh investors applied for company shares to the tune of Tk564.53 crore.
Earlier, the 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 land, and Tk6.2 crore in FDRs.
Sena Kalyan Insurance is a fourth-generation life-insurance company that was established in 2013.
It is engaged in fire, marine, engineering, motor, aviation, and miscellaneous accident insurances.
In the year ended on 31 December 2020, the net profit of the company was Tk9.43 crore, up from Tk9.83 crore in the previous year.
During the time, its EPS was 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.
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.