3 days ago
- Business
- Business Recorder
Public offer launched to buy 7.64% stake in Pakistan General Insurance
Muhammad Shahzad Habib, along with his family and associates, has formally launched a public offer to acquire a 7.64% stake in the Pakistan General Insurance Company Limited (PKGI).
The acquisition is being carried out under the Securities Act, 2015 and related takeover regulations, PKGI said in its notice to the Pakistan Stock Exchange (PSX) on Monday.
'This is with reference to the Public Announcement of Offer to to acquire 7.64% shares (i.e. 3,822,101 Ordinary Shares) of The Pakistan General Insurance Company Limited subject to the minimum acceptance level of 5.35% shares (i.e. 2,675,471 Ordinary Shares) by Muhammad Shahzad Habib and his family,' the notice said.
The company said the offer was publicly announced on May 22, 2025.
'In this regard we are pleased to inform you that the Offer Letters (along with the Acceptance Form) have been dispatched to the shareholders of PKGI,' it said.
The acceptance period as per the public announcement of offer is from July 09, 2025, to July 15, 2025.
