Karachi: EFU Life Assurance Ltd confirmed the successful subscription of its Rights Shares by the company's directors and a substantial shareholder, according to a report dated October 12, 2026. This move was part of a broader financial strategy to bolster the company's capital base.

A total of PKR 374,906,690 was raised through the issuance of 37,490,669 Rights Shares at PKR 10 per share. This constitutes 42.86% of the total Rights Issue, which had been authorized by the Board of Directors on August 21, 2026, for an amount of PKR 450 million. The transaction was conducted in compliance with the Companies (Further Issue of Shares) Regulations, 2020 and other applicable laws.

The auditor's certificate, enclosed with the report, verifies the receipt of the subscription money, ensuring adherence to the stipulations under section 70(1) of the Companies Act, 2017. This certification was performed in compliance with the "Guidelines for Issue of Certificates for Special Purposes by Practicing Chartered Accountant Firms" as issued by the Institute of Chartered Accountants of Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), the subscription process was carried out seamlessly, with the funds being deposited in JS Bank Limited, under the account title "EFU LIFE ASSURANCE LTD RIGHT SUBSCRIPTION ACCOUNT".

This strategic financial maneuver underscores the commitment of EFU Life Assurance Ltd to secure its financial standing and pursue growth opportunities within the insurance sector. The move is expected to enhance the company's ability to meet its financial obligations and expand its market presence.