Karachi: Century Insurance Company Limited is set to issue a new tranche of rights shares as part of its strategic financial maneuvers to meet regulatory and operational demands. The company confirmed the development in a detailed report dated October 12, 2026.
The insurance entity plans to issue ordinary shares at a price of PKR 10 per share, a move aimed at bolstering its capital reserves. This announcement comes as Century Insurance aligns itself with the procedural mandates outlined by the Central Depository Company (CDC) and the Pakistan Stock Exchange (PSX).
According to information available from the Pakistan Stock Exchange (PSX), Century Insurance has committed to adhere strictly to the CDC and PSX regulations concerning the issuance of rights shares. The company has pledged to deposit the unpaid rights in book-entry form within the stipulated timeframe.
An innovative facet of this financial endeavor is the introduction of an online payment facility through ILink for Investor Account Holders and Sub-Account Holders. This service allows stakeholders to make payments via online banking channels, including internet banking, Automated Teller Machines (ATMs), and mobile banking, using a unique 1Bill Payment ID.
Payments for the unpaid rights letter can be made through various methods, including cash, crossed cheque, demand draft, or pay order, addressed to "CICLRIGHTSUBACC." These transactions can be processed through all the branches of the designated banks across Pakistan, as per the tentative schedule submitted by the company.
Furthermore, renouncees and shareholders who hold physical shares have the opportunity to receive credit for the right shares in their CDS investor or sub-account by providing the necessary account details.
Century Insurance has also sought approval for the letter of intimation, the Letter of Right to Physical Shareholders, and other related documents as per the Companies (Further Issue of Shares) Regulations, 2020. The company is keen on ensuring a smooth and compliant execution of the rights issue process, reflecting its commitment to regulatory compliance and shareholder engagement.