FE Report

The Asia Insurance Company Ltd made debut in the bourses Thursday.

It is the 40th listed insurance company with the Dhaka Stock Exchange.

The company has raised Tk 90 million by floating 0.9 million ordinary shares through initial public offering (IPO). The paid up capital after IPO stood at Tk 150 million. The net asset value is Tk 242 and earning per share is Tk 52.16 as of May 31, 2008.

The face value is Tk 100 each. The subscription of the company opened on April 19 and closed April 23 for local nationals and May 2 for non-resident Bangladeshis.

The company's IPO saw oversubscribed by 28.34 times.