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The Dhaka Stock Exchange (DSE) has approved the listing of Pragati Life Insurance Co Ltd on the bourse.
The approval was given Tuesday in a meeting of the listing sub-committee of the DSE, sources concerned said.
"Our board of directors will meet tomorrow (Thursday) to fix the date of debut trading of the newly-listed company and hopefully Pragati will start trading from early next week," one DSE source told the FE.
Pragati's offer in the primary stock market from November 20 to 24 of last year was over-subscribed by a record 38 times.
General investors had deposited Tk 1.73 billion (173 crore) against Tk 45 million during the subscription period of the company. The total number of shares was 450,000.
The face value of each share of the company will be Tk 100.
With Pragati, all the companies, which went public in the calendar year 2005, got listed on the DSE.
A total of 17 companies, which is the highest, floated IPOs worth Tk 3206.90 million in 2005 while the number of IPOs was only three with their total amount standing at Tk 877.75 million in 2004.
Of the total IPO amount in 2005, Tk 378.60 million was offered for the general public, Tk 340.00 million for sponsors and Tk 42.200 million under pre-IPO placement.
The number of IPOs in 2003, 2002 and 2001 were 14, 8 and 11 respectively.
Meanwhile, the subscription for primary shares of Jamuna Bank Ltd and S Alam Cold Rolled Steels Ltd will begin on February 5 and February 19 respectively.
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