Express Insurance IPO Result

Express Insurance IPO Result 2024 PDF & Application Form. Express insurance limited is one of the reputed insurance companies in Bangladesh. The company has got approval for entering into the share market by the Bangladesh Securities and Exchange Commission (BSEC). So, now the Express Insurance Company is ready for the Express insurance IPO. The company has got approval for the initial public offering on Thursday, 18th February 2024.

The acting issue manager for the Express insurance IPO is AAA Finance and Investment Limited, IIDFC Capital Limited and BLI Capital Limited. The Express insurance company will issue its share under the fixed price method. Since the reputation of the company is good, it can be expected that the goal of the company has become completely fulfilled. 

Express Insurance IPO Summary

Public Offer Of 26,079,000 Ordinary Shares Of Tk.10.00 Each At Par Totaling Tk. 260,790,000.

Express insurance company is going to raise Tk 26.70 crore by issuing its IPO to the capital markets. The higher authority of the company has planned to raise the fund by issuing ordinary shares worth Tk10 each. The company is planning to raise the fund with a view to investing more in different sectors. Since raising capital through the IPO system is very popular in our country, it is expected that there will be much response among all the investors for the Express insurance IPO.

Express insurance IPO Subscription details

Opening and Closing Date of Subscription
Opening Date: 13 April 2024
Closing Date: 20 April 2024

Issue Managers: AAA Finance & Investment Ltd., IIDFC Capital Limited and BLI Capital Limited

As per the financial statement by the Express insurance company ended on 31st December 2024, the net asset value (NAV) of the company per share stood at Tk16.65. The earning per share of the company is Tk 1.42. The net asset value per share (NAVPS) of the company was Tk18.72. The commission has approved them 2.6 crore ordinary shares of IPO.

Express Insurance Limited Prospectus

Issue Date of the Prospectus: 10 March 2024. The company has signed the agreements with the Dhaka Stock Exchange and Chittagong Stock Exchange for the Express insurance IPO. Express insurance companies will collect the fund under the fixed price method. Since the company is coming with the Express insurance IPO, people will get another option to invest their money.

Authorized capital: The Company has authorized capital of Tk. 75,00,00,000 comprises of 7,50,00,000 nos. of share @ Tk. 10.00 per share.

Paid-up capital: At present the Company has Tk. 39, 11,84,640 paid up capital which comprises of 3, 91,18,464 number of shares @ Tk. 10.00 per share.

Express Insurance Limited Prospectus PDF Download

Express insurance IPO Lottery Result

The condition implied to the Express insurance company by the commission is that the company is bound to invest at least 20 percent of its total IPO fund in the capital market. Though the rule of entering the share market and issuing IPO is that a company needs to have the offer size of at least Tk 30 crore, the commission has exempted the company from that rule. So the lottery for the Express insurance IPO will be held for Tk 26.70 crore which is lower than the minimum funds rule. The lottery date for Express insurance IPO will be announced soon.

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As different IPO for different companies open the door of investing and earning benefits, people all over the country is looking for more information about the Express insurance IPO. No matter what does it happen outside, how capable the investors are to invest, they will show much interest to invest in the company. Everyone is hoping for another reputed company in the share market.

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