KARACHI: Pakistan-Kuwait Takaful’s recent rights offering to raise share capital by Rs 150 million has been allocated in full, Mr Imtiaz Bhatti, CEO said in a press statement.
Shareholders applied for 80 percent of the newly issued ordinary shares, ranked pari passu with the existing shares of the company in all respect. The remaining 20 percent shares were allocated to one of the major shareholders M/s Etiqa Overseas Investment Pte Ltd., Malaysia based on the terms of the offering memorandum. This increases the paid-up capital of the company from Rs 250 million to Rs 400 million, highest among all General Takaful operators in Pakistan.
The company intends to expand its Takaful activities across Pakistan through developing strategic plans. He added that the capital injection will support underwriting operations and business expansion, and will help in tapping new avenues for growth. staff report
Source:dailytimes.com.pk/
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