Karachi: In a recent disclosure under the Securities Act, 2015, Naseer Ahmeed announced a significant acquisition of voting shares in PICIC Insurance. According to the notification submitted to the Pakistan Stock Exchange (PSX), Ahmeed acquired 805,000 additional voting shares on January 14, 2025. This acquisition was executed at a rate of Rs. -3.43 per share.

As a result of this transaction, Ahmeed's total shareholding in PICIC Insurance has increased to 3,525,405 shares. This latest acquisition marks a notable milestone, as it elevates Ahmeed's stake beyond 10% of the total issued voting shares of the company. Prior to this acquisition, Ahmeed held 2,720,405 shares in PICIC Insurance.

The development reflects an active engagement in the designated market category of insurance. The acquisition underscores a strategic move by Ahmeed, positioning him as a significant shareholder in the company. According to information available from the Pakistan Stock Exchange (PSX), this increase in shareholding represents a big move in the context of market activity.

As the situation develops, stakeholders and market analysts are likely to closely monitor Ahmeed's involvement in PICIC Insurance, given the implications of surpassing the 10% shareholding threshold.