The Universal Insurance Company Limited has announced a rights issue offering 50,000,000 new ordinary shares at a price of PKR 10 per share, representing 100% of the existing paid-up capital. This initiative aims to strengthen the company's capital reserves and meet regulatory requirements.
- Rights issue consists of 50,000,000 shares at PKR 10 each, totaling PKR 500,000,000.
- Entitlement ratio: 100 rights shares for every 100 shares held (100% of existing capital).
- The purpose of the funds is to enhance capital reserves, improve solvency, and secure better reinsurance terms.
- The offer document is valid for 60 days from the last payment date, with specific dates yet to be confirmed.
- The rights issue is fully underwritten, mitigating the risk of undersubscription.