Cos to issue rights shares

Mercantile Ins: The Securities and Exchange Commission (SEC) has approved the rights offer of Mercantile Insurance Company Ltd for 1,650,000 ordinary shares of Tk 100 each at an issue price of Tk 150 per share (including a premium of Tk 50 each) totaling Tk 247,500,000 only at a ratio of 1R:1, (one rights share for one existing share). The approval has been accorded subject to the condition that the company shall comply with the requirements embodied in the SEC (rights issue) Rules, 2006 and other relevant laws and regulatory requirements, and shall also adhere to the conditions imposed by SEC under Section-2CC of the Securities and Exchange Ordinance, 1969. City General Ins: The SEC has approved the rights offer of City General Insurance Company Ltd for 18,150,000 ordinary shares of Tk 10 each at an issue price of Tk 15 per share (including a premium of Tk 5.0 each) totaling Tk 272,250,000 only at a ratio of 1R:1, (one rights share for one existing share). The approval has been accorded subject to the condition that the company shall comply with the requirements embodied in the SEC (rights issue) Rules, 2006 and other relevant laws and regulatory requirements, and shall also adhere to the conditions imposed by SEC under Section-2CC of the Securities and Exchange Ordinance, 1969. - DSE Online