Alpha Islami Life Insurance to Raise Capital through IPO

Alpha Islami Life Insurance to Raise Capital through IPO

Alpha Islami Life Insurance Limited (AILIL) has recently decided to raise capital through Initial Public Offering (IPO). The company will apply to Bangladesh Securities and Exchange Commission (BSEC) to get the approval. The authorized capital of the life insurer is BDT 100 crore, and the pre-IPO paid-up capital is BDT 50 crore.

AILIL is a prominent name in the insurance sector of Bangladesh with decade of experience. The company has also accredited with some prestigious awards like Most Innovative Shariah Compliant Life Insurance Company-2022 (by The Global Economics, London, UK) and Best Islami Life Insurance (by Bangladesh Product Exhibition-2023, KSA).

AILIL has engaged Strategic Finance Limited (SFL), a Merchant Bank licensed by BSEC, to act as the Issue Manager through an Agreement signed by the Chief Executive Officers of the respective companies on 18 November, 2023.

Mr. Alamgir Shamsul Alamin, Chairman of AILIL, Mr. Muhammad Sayeed, Vice Chairman of AILIL, Mr. Nura Alam Siddikie Ovee, Chief Executive Officer & Rubel Chandra Paul, Head of Share & Investment of AILIL, Dr. Chowdhury Nafeez Sarafat, Mr. Ehsanul Kabir, Group CEO of Strategic Holdings, Mr. Asit Kumar Chakraborty, Managing Director of SFL, Mr. Muhammad Kabir Sadeeq, Chief Executive Officer of SFL, and other high officials from both organizations were also present on the occasion.