UIC Board approves disinvestment of Apna Microfinance Bank shares

MG News | March 27, 2025 at 10:11 AM GMT+05:00

0:00

March 27, 2025 (MLN): The Board of Directors of The United Insurance Company of Pakistan Limited (PSX: UNIC) approved the disinvestment of 59.94 million ordinary shares of Apna Microfinance Bank Limited, in a meeting held at 11:00 a.m. on March 26, 2025.

The decision is subject to shareholder approval in the forthcoming Annual General Meeting scheduled for April 25, 2025.

The aforementioned information was disseminated through a notification to Exchange.

UNIC was incorporated on October 20, 1959, in Pakistan as a Public Limited Company under the Defunct Companies Act, 1913, now the Companies Act, 2017.

The principal activity of the Company is General Insurance Business and it qualifies as a domestic insurance company under the Insurance Ordinance, 2000 and undertakes Fire & Property Damage, Marine Aviation & Transport, Motor, Crop and Miscellaneous General Insurance.

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