The institutions are Premier Bank, Agrani Insurance and Sonar Bangla Insurance.

The companies are expected to float IPOs by the end of this month after getting approval of the Securities and Exchange Commission (SEC).

Sources in the SEC said the companies are likely to go ahead from the regulators to invite public subscription later this month.

Another senior SEC official said the prospectus of the Agrani Insurance and Premier Bank is at the final stage of approval while it may take some times before Sonar Bangla Insurance gets approval.

Premier Bank is hoping to raise Tk 55.70 crore through the IPOs while the insurance companies are seeking to raise Tk 9 crore each.

Premier Bank will issue 55,70,000 shares with a face value of Tk 100 each. Equity Partners Limited has been engaged as the issue manager in processing the IPOs. The paid-up capital of the bank is Tk 111 crore.

Agrani Insurance will also offer 9,00,000 ordinary shares valued at Tk 100 each. The paid-up capital of each of the insurance companies is Tk 15 crore.

Talking to The Daily Star, capital market analysts expressed hope that the new issues will help in cooling down the market which has been hitting new highs in the recent times.

"The stock market is riding on bank stocks and a new bank issue will help absorb substantial amount of money giving investors wider investment scope," an analyst seeking anonymity said.

Meanwhile, the capital market analysts expressed their view that the IPOs of these financial institutions will strengthen the capital market as people are still interested to invest in well-managed companies.

It has been observed during the last one and a half years that every single bank IPO and that of mutual funds is getting overwhelming response from the investors although stock market was in a bearish mood, pointed out another expert.

Few more financial institutions including BRAC Bank, South Asia Insurance Limited and Global Insurance are also expected to seek SEC consent to go public shortly.