Jahangir Siddiqui & Co. approves further Rs86.96 million investment in EFU Life Assurance

Jahangir Siddiqui & Co. has okayed a further long-term equity commitment of Rs86.96 million in EFU Life Assurance, according to a notice filed with the Pakistan Stock Exchange on Wednesday. The investment firm will take up 8,696,339 right shares of the insurer, each with a par value of Rs10, which adds up to Rs86,963,390. The board signed off on the move at a meeting held on October 14, 2026, but the deal still requires shareholder backing.

EFU Life is described in the filing as an associated company of the investor, and the purchase depends on shareholders passing a special resolution. The board has called an extraordinary general meeting in Islamabad on November 6, 2026 to obtain that approval. The requirement stems from Section 199 of the 2017 companies law.

Set up on May 04, 1991, the firm is an unquoted public company. Its principal activities include managing strategic investments, trading securities and offering consultancy services.