SECP greenlights PSHL's bid to acquire ASIC shares
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MG News | May 18, 2026 at 12:30 PM GMT+05:00
May 18, 2026 (MLN): The Securities and Exchange
Commission of Pakistan (SECP) has granted approval for Private Stock Holding
Company (PSHL) to acquire up to 185,558,243 shares of Asia Insurance Company
Limited (PSX:ASIC), currently held by InsuResilience Investment Fund (IIF).
IIF, a substantial shareholder with a 25.42% stake in Asia
Insurance Company Limited, had filed the application under Section 67 of the
Insurance Ordinance, 2000.
The approval comes in accordance with Section 96 of the
Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, with the
transaction subject to the terms and conditions of the agreement entered into
between IIF and PSHL.
The aforementioned information was disseminated
through a notification to Exchange.
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