The Universal Insurance Company Limited has announced a rights issue to increase its paid-up share capital by issuing 50,000,000 ordinary shares at a par price of PKR 10 per share, offering 100 right shares for every 100 shares held by existing shareholders.
- Rights issue of 50,000,000 shares at PKR 10 each, totaling PKR 500,000,000.
- Entitlement ratio: 100 right shares for every 100 shares held (100% of existing paid-up capital).
- Purpose: To meet minimum paid-up capital requirements for non-life insurers as per SECP regulations.
- Proceeds will enhance capital reserves, improve underwriting capacity, and support sustainable growth.
- Dates for book closure and entitlement determination will be communicated later.
- The rights issue is fully underwritten, mitigating investment risks for shareholders.