Sena Kalyan Insurance’s stock price drops after 23 trading days
BI Report || BusinessInsider
Photo illustration: Business Insider Bangladesh
After a 23-day rise since its debut, the share price of Sena Kalyan Insurance Company Limited (SKICL) finally dropped on Wednesday.
The price fell by Tk 4.40 to Tk 82.70 on Wednesday. The company’s share price continued to increase since its debut on November 7 and rose to Tk 87.10 on Tuesday.
The Dhaka Stock Exchange (DSE), terming its price increase unusual, has recently sent a notice to the company asking for an explanation.
In response to the letter from DSE, the company said on December 5 that its share price had risen without any undisclosed price sensitive information.
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 of stakes in SKICL, institutes 16 percent, foreigners 4 percent and public 20 percent, DSE data shows as of December 8, 2021.
