Trust Islami Life’s Tk 16 crore IPO gets nod

The Bangladesh Securities and Exchange Commission today approved the initial public offering of Trust Islami Life Insurance to raise funds of Tk 16 crore.

The insurer would issue 1.6 crore shares at Tk 10 each and will utilise the IPO proceeds to invest in government treasury bond, stock market and fixed deposit receipts.

The issue manager of the company is BMSL Investment.