Adamjee Insurance to invest up to Rs900mn in Hyundai Nishat Motor

By MG News | August 29, 2022 at 03:40 PM GMT+05:00

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August 29, 2022 (MLN): The board of directors of Adamjee Insurance Company Limited (PSX: AICL) in its meeting held on August 29, 2022, has decided to make an additional equity investment of up to Rs900 million in Hyundai Nishat Motor (Pvt) Limited (HNMPL), the company’s filing on the bourse said on Monday.

The said investment shall be made by subscribing 90mn ordinary shares of Rs10 each in HNMPL, an associated company under Section 199 of Companies Act 2017.

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