ALIFE Board moves to raise share capital to Rs3bn

By MG News | March 21, 2025 at 12:31 PM GMT+05:00

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March 21, 2025 (MLN): The Board of Directors of Adamjee Life Assurance Company Limited (PSX: ALIFE) has recommended an increase in the company’s authorized share capital from Rs2.5 billion, divided into 250 million equity shares of Rs10 each, to Rs3bn.

This will bring the total number of equity shares to 300m, with each share valued at Rs10, the company's filing on PSX revealed today.

This increase of 50m new ordinary shares will be presented for approval at the company’s Annual General Meeting (AGM) scheduled for April 28, 2025.

The proposal also includes necessary amendments to the Memorandum and Articles of Association of the company.

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