Karachi: Askari Life Assurance Company Limited has announced the transfer of 51% of its shares and control, according to a report dated July 17, 2026. This development follows an earlier notification released on July 8, 2026, by the company regarding the transaction.

The Securities and Exchange Commission of Pakistan (SECP) has confirmed that this transaction is exempt from the requirements stipulated in Part IX of the Securities Act, 2015. This exemption also aligns with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the transaction involves the transfer of a controlling stake in the company, a move that holds significant implications for the market and stakeholders involved.

The SECP communicated its confirmation through letter #SMITPMADD/FF/Cl/MISC/40/2026-40, dated July 15, 2026. This confirmation is crucial for the legal and regulatory compliance of the transaction.

Market participants, specifically TRE Certificate Holders of the Exchange, are urged to note the details of this transaction as disclosed by Askari Life Assurance Company Limited.