More cos waiting for IPO approval

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Refayet Ullah Mirdha
Two non-banking financial institutions (NBFIs) and a life insurance company submitted applications for floating their shares on the bourses recently.
Sources in the Securities and Exchange Commission (SEC) said Delta Brac Housing (DBH) and National Housing Company, two NBFIs mainly financing the real estate sector have applied for share floatation in the stock market recently.
Talking to the FE, executive director of the SEC, Farhad Ahmed said Rupali Life Insurance Company also applied for floating its shares in the stock market.
He said after the completion of all procedures of the respective companies, the SEC will permit them to float the initial public offerings (IPOs).
SEC sources said DBH will float shares worth Tk 175 million with a face value of Tk 100 each. The DBH company has proposed a premium for Tk 150 each, sources in the SEC said.
Currently, the amount of paid-up capital of the DBH is more than Tk 220 million, SEC sources said.
On the other hand, National Housing Limited will float shares worth Tk 50 million with a face value of Tk 100 each. The company did not demand any premium, sources said. Currently, National Housing has the total paid-up capital of Tk 400 million..
Rupali Life Insurance Company is scheduled to float shares worth Tk 450 million with a face value of Tk 100 each. Currently, the total amount of paid-up capital of the company is Tk 30 million, SEC sources said.