Karachi: EFU Life Assurance Limited has confirmed the full subscription of 45,000,000 Right Shares, following a report dated November 11, 2026. The issuance of a No Objection Certificate (NOC) has been requested from relevant authorities to facilitate the release of the subscription funds.

The company has successfully raised PKR 450 million through the right shares, as verified by the requisite auditor's certificate. This step complies with the regulatory requirements under section 70(1) of the Companies Act, 2017, and the applicable regulations. According to information available from the Pakistan Stock Exchange (PSX), this move aligns with the established market protocols and ensures the company's adherence to legal stipulations.

The board of directors had previously authorized the right issue in a meeting held on August 21, 2026, for the amount of PKR 450 million. Subsequently, on November 6, 2026, the board sanctioned the allotment of unsubscribed shares amounting to 5,926,860 to the company's employees.

The funds have been received in designated accounts, with PKR 433,603,890 deposited in JS Bank Limited and the remaining PKR 16,396,110 received by the Central Depository Company of Pakistan Limited (CDC). The latter amount is set to be released to EFU Life Assurance upon the issuance of the NOC by PSX.

The company’s revised paid-up capital now stands at PKR 1.50 billion, following the right issue. All regulatory requirements for share allotment under the CDC’s name have been fulfilled, with no additional conditions imposed by the Securities and Exchange Commission of Pakistan (SECP) at this stage.

The statutory auditors have issued a certification in compliance with the guidelines issued by the Institute of Chartered Accountants of Pakistan, verifying the receipt of the consideration money and the execution of the right issue in accordance with legal requirements. This certification is intended for submission to the registrar, PSX, CDC, and SECP.