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Progressive Insurance to increase capital to Rs200mn

Progressive Insurance to increase capital to Rs200mn
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January 05, 2023 (MLN): Progressive Insurance Company (PRIC) will increase the capital from Rs161.5 million to Rs200mn, the company's progress report issued on Thursday revealed. 

The company further updated that if required, the company will consider the nature of business other than insurance.

"Further capital will be increased from Rs200mn to Rs500mn by way of right shares issue," the report further added.

The company has requested SECP multiple times to allow trading of the company's shares so that the right shares can be issued to the shareholders.

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Posted on: 2023-01-05T12:06:28+05:00