Islamabad: Jahangir Siddiqui & Co. Ltd. (JSCL) has received shareholder approval to proceed with a significant long-term equity investment in EFU Life Assurance Limited. The decision was made during the company's Extraordinary General Meeting held on November 6, 2026, in Islamabad.

On that date, shareholders of JSCL convened to discuss and vote on a special resolution concerning further equity investment in EFU Life Assurance Limited, an associated company. The resolution was passed with a focus on expanding JSCL's investment portfolio, in line with the provisions of Section 199 of the Companies Act, 2017.

The approved investment amounts to PKR 86.96 million, reflecting JSCL's commitment to subscribe to 8,696,339 right shares of EFU Life Assurance Limited at a par value of PKR 10 each. This move is part of JSCL's strategy to enhance its stake and fortify its position within the insurance sector.

According to information available from the Pakistan Stock Exchange (PSX), the decision aligns with the company's long-term strategic goals. The resolution authorizes the CEO, CFO, and Company Secretary of JSCL to undertake all necessary actions to implement the investment, ensuring compliance with regulatory requirements and facilitating the transaction.

The meeting underscored JSCL's proactive approach to leveraging investment opportunities to strengthen its financial standing and broaden its business interests.