Adamjee Insurance to purchase 25.72% share capital from IVM Intersurer BV

MG News | January 25, 2019 at 04:44 PM GMT+05:00

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January 25, 2019 (MLN): The Board of Directors of Adamjee Insurance, in its meeting held on January 25, 2019, has decided to invest up to Rs. 401.2 million by way of acquiring 24,059,855 ordinary shares of Adamjee Life Assurance (par value of Rs10/- each), at a purchase price of approximately Rs. 16.68 per share from IVM Intersurer BV.

This amount represents a stake of 25.72% in the equity of Adamjee Life Assurance Company Limited, whereby Adamjee Life Assurance Company Limited could become a wholly-owned subsidiary of Adamjee Insurance company.

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