Karachi: The Pakistan General Insurance Company Limited (PKGI) has announced the receipt of a public offer from Mr. Muhammad Shahzad Habib, along with his associates and family, to acquire 7.64% of its issued share capital. The offer, managed through LSE Capital Limited, was made public on May 19, 2025, and involves the acquisition of 3,822,101 ordinary shares at a rate of Rs. 13.44 per share.

The offer stipulates a minimum acceptance level of 5.35%, equating to 2,675,471 ordinary shares. This acquisition bid falls under the regulatory framework of the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the announcement was accompanied by the requisite documentation submitted to the Securities and Exchange Commission of Pakistan. This includes the Public Announcement of Offer (PAO) and other necessary documents as required under Regulation 7(5) of the 2017 takeover regulations.

The offer will be published in both an English and an Urdu newspaper on May 22, 2025, as part of the compliance and transparency measures stipulated by the regulations governing such acquisitions. The designated market category for this transaction remains consistent with existing regulatory classifications.