Bluechip Securities to buy National Life Insurance shares worth Tk64cr
The brokerage firm will do it through the block market at the DSE within the next 30 days
Bluechip Securities Limited will buy 2.30 percent or 25 lakh shares, worth Tk64 crore, of National Life Insurance Company Limited.
The brokerage firm will do it through the block market at the Dhaka Stock Exchange (DSE) within the next 30 days.
Bluechip Securities Managing Director Mujibur Rahman is also a shareholder director of National Life.
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The DSE trading right entitlement certificate (Trec) holder brokerage firm will buy the shares at the current market price.
The closing price of National Life's every share on Thursday was Tk257.60 at the DSE, while its highest price was Tk294.80 each in the last 12 months.
The company's share price rose by 13 percent in the last several days at the DSE.
Meanwhile, in the first half of this year, National Life's consolidated life revenue account increased by Tk16.63 crore.
Its total life insurance fund stood at Tk3,715 crore at the end of first half of this year.
The company recommended a 28 percent cash dividend to shareholders for the last financial year which ended on December 31.
For the shareholders' final approval of dividend and audited account, the company will hold an annual general meeting on September 29 this year. August 31 has been set as the record date.
National Life was listed with the DSE in 1995 and its paid-up capital is Tk108.52 crore.
Sponsors, directors jointly have 77.08 percent stake in the company, institutional investors 16.34 percent, foreign investors 0.30 percent, and general investors 6.28 percent.
