AILIL decided to raise capital through Initial IPO

Alpha Islami Life Insurance Limited (AILIL) has decided to raise capital through Initial Public Offering (IPO). The company will apply to the Bangladesh Securities and Exchange Commission (BSEC) for approval. The authorised capital of the life insurer is Tk 1.0 billion, and the pre-IPO paid-up capital is Tk 500 million. AILIL has engaged Strategic Finance Limited (SFL) to act as the issue manager through an agreement. Alamgir Shamsul Alamin, chairman of AILIL, Muhammad Sayeed, vice chairman of AILIL, Nura Alam Siddikie Ovee, chief executive officer, and Rubel Chandra Paul, head of share & investment of AILIL, Dr Chowdhury Nafeez Sarafat, Mr Ehsanul Kabir, Group CEO of Strategic Holdings, Asit Kumar Chakraborty, managing director of SFL, Muhammad Kabir Sadeeq, chief executive officer of SFL, were present on the occasion.