Adamjee Life Assurance to commence trading at PSX tomorrow

MG News | March 03, 2022 at 01:56 PM GMT+05:00

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March 03, 2022 (MLN): Pakistan Stock Exchange (PSX) has notified the listing of Adamjee Life Assurance Company Limited (ALIFE) with effect from tomorrow i.e., Friday, March 04, 2022.

According to a notice issued by the PSX, the trading in the shares of the company will commence on the Exchange’s Main Board from the same date and shall be settled on a T+2 basis. The first settlement date will be Tuesday, March 08, 2022.

Further, the market lot of the company will be 500 shares of Rs10 each.

The shares of the company have already been declared eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited (NCCPL). NCCPL has assigned “ALIFE” to the company as their company code/security symbol.

The opening price of the shares of the company will be Rs28 per share, as determined through the Book Building process when the company was going public.

The notice said that the company will be quoted in the “Insurance” sector in the Daily Quotation of the Exchange.

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