Premier Insurance Limited has announced a rights issue to raise capital, offering existing shareholders the opportunity to subscribe to new shares.
- The rights issue consists of 20,226,042 new ordinary shares, representing 40% of the existing paid-up capital.
- Offer price is set at PKR 10.00 per share, totaling an aggregate issue size of PKR 202.26M.
- Shareholders are entitled to 40 rights shares for every 100 shares held.
- The primary purpose is to meet the revised minimum capital requirements set by the SECP.
- Book closure dates and specific trading dates for the rights have yet to be announced.
- The company aims to utilize the proceeds for investments in various securities to enhance profitability.