Karachi, July 17, 2026 – Askari General Insurance Company Limited (AGICO) has informed the Pakistan Stock Exchange (PSX) that the Securities and Exchange Commission of Pakistan (SECP) has approved an exemption related to the proposed transfer of a controlling stake in the company.
In a notification submitted to the PSX, the company stated that the SECP, through its letter dated July 15, 2026, confirmed that the proposed transaction involving the transfer of 51% shareholding and control of Askari General Insurance Company Limited is exempt from the requirements of Part IX of the Securities Act, 2015, read together with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The latest disclosure follows the company’s earlier announcement dated July 8, 2026, in which it had informed the market about the proposed transaction. With the SECP’s confirmation now in place, the company has updated the exchange and requested that the information be disseminated to all TRE Certificate Holders.
The exemption granted by the regulator is expected to facilitate the completion of the ownership transfer without triggering the standard takeover provisions under the applicable securities regulations. However, the company has not disclosed additional details regarding the buyer, transaction value, or expected completion timeline in the latest filing.
The notification was signed by Waqas Ali Janjua, Company Secretary of Askari General Insurance Company Limited, with a copy also submitted to the SECP. Investors are likely to monitor further announcements for updates on the completion of the transaction and any changes to the company’s ownership structure.
