Karachi: EFU Life Assurance Ltd has announced a significant share acquisition by EFU General Insurance Ltd, a related entity, according to a recent disclosure under Pakistan Stock Exchange Regulation 5.6.4. This transaction marks a notable adjustment in the shareholdings within the conglomerate.
On September 27, 2024, EFU General Insurance Ltd executed a purchase of 50,000 shares of EFU Life Assurance at a rate of 183.68 per share. This transaction was conducted through the Central Depository Company (CDC) on the ready market. According to information available from the Pakistan Stock Exchange (PSX), this acquisition increases EFU General Insurance’s total holdings in EFU Life Assurance to 47,480,571 shares, representing 45.22 percent of the company.
This move by EFU General Insurance Ltd not only consolidates its position as a substantial shareholder but also signals a strengthening of ties within the entities under the EFU banner. The transaction is significant both in terms of the volume of shares traded and the impact on the ownership structure of EFU Life Assurance.
EFU Life Assurance Ltd is a major player in the insurance sector, and such transactions are closely watched by investors for indications of strategic shifts and potential impacts on shareholder value. The disclosure, mandated by PSX regulations, ensures transparency and provides stakeholders with critical information regarding changes in significant shareholdings.