Karachi June 20 2025: Adamjee Insurance to offload 16.2 million shares of its subsidiary Adamjee Life Assurance Company Limited in off market trades in order to comply with free float regulations, according to company filing to the exchange.
“The board of directors of Adamjee Insurance Company Limited (AICL) in its emergent meeting held on June 20, 2025, has decided to off-load 16,250,000 shares i.e. 6.5% shareholding of its subsidiary, namely, Adamjee Life Assurance Company Limited (ALIFE), through off market trades on PSX Portal to comply with the free-float requirements under Clause 5.4.1. of the PSX Regulations” states the filing to Pakistan Stock Exchange.
“Following this transaction, AICL’s shareholding in ALIFE will reduce to 208,750,000 shares i.e. 83.5% from 225,000,000 shares i.e. 90% of the Paid-up Capital currently held” the notice added.
