Provati Insurance enters securities trading business
The listed non-life insurer buys 52% stakes of HAC Securities
Provati Insurance has ventured into the securities trading business with the purchase of majority stakes of HAC Securities Ltd.
The listed non-life insurer executed the share purchase agreement with HAC Securities on March 1 of 2023 to purchase 52 percent shares of the brokerage firm.
The shares of HAC Securities were transferred to the name of Provati Insurance Company through the Registrar of Joint Stock Companies and Firms, Bangladesh as per the share purchase agreement on December 10 of 2023.
Provati shared the information through a posting on the website of the Dhaka Stock Exchange (DSE) today.
The insurance company gave 12 percent cash dividend for its shareholders for 2022.
The company has a reserve and surplus of Tk 43 crore, according to DSE data.
According to the website of HAC Securities, it has eight branches located in Faridpur, Narayanganj, Sylhet, Patuakhali, Mirpur, Hatirpool, Gulshan and Kawran Bazar.