Sena Kalyan Insurance’s stock price rises by 700% in 22 trading days
BI Report || BusinessInsider
Share price of Sena Kalyan Insurance continues to rise at 10 percent each day. Business Insider Photo
Share price of Sena Kalyan Insurance continues to rise at 10 percent each day since its debut in the market on November 7.
In the past 22 trading days, the stock price of the newly listed insurer has risen nearly 700 percent from its face value of Tk 10 per share, according to Dhaka Stock Exchange data.
The price of Sena Kalyan closed Tk 79.2 a share on Monday.
As a result, the company’s market cap reached Tk 288 crore, up from its paid-up capital of Tk 40 crore, in just one month.
Sena Kalyan Insurance Company Limited (SKICL) is a concern of Sena Kalyan Sangstha (SKS) of Bangladesh Armed Forces. The company commenced its business on September 10, 2013.
The Board of Directors of SKICL is composed of ex-officio senior military officers .The chairman of the board is a serving Major General of Bangladesh Army, who is also the chairman of SKS, according to the company’s website.
Sponsors hold 60 percent stakes in SKICL, institutes 16 percent, foreigners 4 percent and public 20 percent, DSE data shows as of December 6, 2021.