Green Delta Insurance Company Ltd, a listed company, will sponsor an open-end mutual fund (MF) and an Exchange Traded Fund (ETF) through an aggregate amount of investment worth Tk 50 million.
The company's board of directors has taken the decision, a disclosure said.
As a sponsor, Green Delta Insurance will subscribe Tk 25 million of an open-end MF namely Green Delta Dragon Enhanced Blue Chip Growth Fund.
The remaining amount of the fund having a size of
Tk 500 million will be raised from other sponsors and the market.
Green Delta Insurance will also subscribe Tk 25 million of an ETF namely DS30 Index Tracking Exchange Traded Fund (DS30ETF).
The remaining portion of the fund will be raised from other sponsors and the market.
An ETF is an open-end Collective Investment Scheme (CIS) that continuously issues and redeems its shares of stock in creation of unit in exchange for basket and representing an index.
Green Delta Insurance, presently an 'A' category company, was listed with the stock exchange in 1989.
The company's sponsor-directors hold 30.51 per cent shares, institutes 20.59 per cent, the foreigners 4.60 per cent and general public 44.30 per cent as on April 30, 2022.
The company's share price closed at Tk 77 each on Thursday with a loss of 1.16 per cent on Dhaka Stock Exchange (DSE).