Dhaka, Bangladesh (BBN)– Share trading of the Rupali Life Insurance Company Ltd and Navana CNG Ltd is likely to begin soon, subject to approval of the DSE board, officials said.

The Dhaka Stock Exchange (DSE) listing sub-committee, at a meeting held on Wednesday, reviewed the listing application and made recommendations for placing before the DSE board for listing with the bourse.

The DSE board in its next meeting, scheduled on Sunday next, might give approval for listing and fix debut trading date of the two companies in the stock market, the Financial Express (FE), a local newspaper, reported quoting sources.

Rupali will be the 40th insurance company to be listed with the prime bourse. It issued 0.45 million shares with the face value of BDT 100 per share to raise BDT 45 million through initial public offering.

Rupali Life Insurance Company floated shares worth BDT 450 million with a face value of BDT 100 each. Its pre-IPO paid up capital is BDT 30 million.

Under the Direct Listing Regulations, Navana CNG Ltd, a sister concern of Navana Group, has planned to raise BDT 180 million through floating shares in the country’s stock market.

Its existing paid up capital is BDT 300 million, face value at BDT 10 each, earning per share BDT 8.00 and net asset value BDT 12.

Earlier, Aftab Automobiles, another concern of the Group, in its Board of Directors meeting, decided that it will invest in Navana CNG Limited for acquisition of 4.5 million shares of BDT 10 each (i.e. 15 per cent of total holding) at face value.

Navana CNG Ltd is one of the leading CNG service providers in the country.

BBN/SS/SI/AD-09July09-1:44 am (BST)