SECP greenlights PSHL's bid to acquire ASIC shares

MG News | May 18, 2026 at 12:30 PM GMT+05:00

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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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