central insurance company limited - Dhaka Stock Exchange
central insurance company limited - Dhaka Stock Exchange
central insurance company limited - Dhaka Stock Exchange
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Rights Offer Document<br />
CENTRAL INSURANCE COMPANY LIMITED<br />
PURPOSE OF THE RIGHTS ISSUE<br />
s<br />
Central Insurance Company Limited is one of the first generation Non-Life <strong>insurance</strong> Company in the private sector of<br />
Bangladesh which provides diversified Non-Life <strong>insurance</strong> services. The Company’s paid up capital, after crediting 15% bonus<br />
share as approved in the 23 rd AGM on 20 th June 2011 has reached to BDT 224.67 million.<br />
As per Insurance Act 2010 the paid up capital of Non-Life <strong>insurance</strong> Company must be raised up to BDT 400.00 million by year<br />
2012. Furthermore, to enhance financial strength and to expand their activities the Company would like to increase their paid-up<br />
capital to BDT 393.18 million as already approved in the 23 rd AGM dated 20 th June 2011.<br />
Accordingly, Central Insurance Company Limited is going for rights issue of 11,233,580 ordinary shares of BDT 10.00 each at<br />
an issue price of BDT 15.00 each including a premium of BDT 5.00 per share totaling BDT 16,85,03,700.00. The additional paid<br />
up capital will be deposited with scheduled bank as guided by the Insurance Act and the share premium will be invested in<br />
construction & land development, invest in capital market to enhance net worth of the Company for the benefit of shareholders.<br />
9 | P a g e
Change language