JSCL approves Rs87m investment in EFU Life rights shares

Mettis Global reported that the board of Jahangir Siddiqui & Co. (PSX: JSCL) has signed off an extra long-term investment of Rs86,963,390 in EFU Life Assurance Limited, an associated company. The board made the decision at its meeting held on October 14, 2026, as the filing confirms. The money will buy 8,696,339 right shares of the insurer, each priced at its Rs10 par value.

The transaction depends on shareholders passing a special resolution. To secure that approval, the board has called an Extraordinary General Meeting for November 06, 2026 in Islamabad. Shareholders will therefore vote on the plan before the deal can proceed.

The filing classifies EFU Life as an associated company and describes the outlay as long-term equity investment, with the board meeting and meeting dates laid out in a summary table within the report. Until the Extraordinary General Meeting takes place, the subscription remains conditional on that resolution.