Trust Islami Life Insurance to make debut trading today

Trust Islami Life Insurance is all set to hold its debut trading today (Thursday) on the Dhaka Stock Exchange and the Chittagong Stock Exchange under the category "N".
Its life insurance fund escalated by Tk 64.16 million in July-September 2022 to Tk 187.31 million, according to un-audited financial statements published on Wednesday.
The new generation life insurer, which got regulatory approval from the Bangladesh Securities and Exchange Commission in January this year, raised Tk 160 million under the fixed price method.
The company's initial public offering subscription took place early April.
General investors each received 36 IPO shares while non-resident Bangladeshis got 72 shares each under the pro-rata system.
Trust Islami Life's IPO is the second IPO this year after Midland Bank that raised Tk 700 million under the fixed price method and made its trading debut on March 27.
Trust Islami Life will utilise the IPO proceeds for buying treasury bonds and investing in the secondary market and fixed deposit receipts.
The authorised capital of the life insurer is Tk 1 billion and the post-IPO paid-up capital is Tk 400 million.
BMSL Investment is working as the issue manager of the IPO.
Established in February 2014, Trust Islami Life Insurance provides life insurance, group insurance, and micro insurance in Bangladesh. Presently 56 insurers - both life and non-life - are listed in the country's capital market.

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