https://www.tbsnews.net/economy/stocks/meghna-insurance-make-share-trading-debut-wednesday-434446

Meghna Insurance Company Ltd will commence trading of its shares on the Dhaka Stock Exchange (DSE) from Wednesday under the "N" category.

The DSE trading code for the company is "MEGHNAINS" and the DSE company code is 25754.

Earlier, on 1 March this year, the Bangladesh Securities and Exchange Commission (BSEC) allowed the general insurer to raise Tk16 crore from the stock market through an initial public offering (IPO).

The company has issued 1.6 crore ordinary shares at a face value of Tk10 each. 

It will invest Tk2.4 crore in government Treasury bonds, Tk3.2 crore in listed securities, and Tk9.52 crore in fixed deposit receipts (FDRs).

Asian Tiger Capital Partners Investments, Prime Bank Investment, and UCB Investment are the issue managers for the company's IPO.

The principal business of Meghna Insurance is to provide all kinds of insurance, guarantees, and indemnities, other than life insurance.

It provides fire, marine, engineering, motor, and other miscellaneous insurance.

In the January-March quarter of 2021, the net profit of the company was Tk2.67 crore, which was Tk5.24 crore in the same period a year ago.

During the period, its earnings per share (EPS) stood at Tk1.83 and net asset value per share at Tk16.41.

Its weighted average EPS for the last five years stood at Tk0.56.

Currently, its paid-up capital is Tk24 crore, while the authorised capital is Tk100 crore.

The company will not be able to declare, approve, or disburse dividends before its stock market listing.

There are 78 companies in the insurance sector of Bangladesh. Of them, 32 are life insurance and 46 are non-life insurance. Fifty-three companies are listed on the stock exchanges.