Adamjee Insurance Company Limited (AICL) has announced to divest 6.5% of its shareholding, amounting to 16.25 million shares, in its subsidiary, Adamjee Life Assurance Company Limited (ALIFE).
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“The board of directors of Adamjee Insurance Company Limited (AICL) in its emergent meeting held on June 20, 2025, has decided to offload 16,250,000 shares, i.e. 6.5% shareholding of its subsidiary 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,” read the notice.
The company shared that 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.
Incorporated in Pakistan on September 28, 1960, under the repealed Companies Act, 1913, now the Companies Act, 2017, Adamjee Insurance is engaged in the general insurance business.
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