KARACHI – Habib Bank Limited (HBL), one of the country’s leading commercial banks, has acquired some nine percent more ordinary shares in the New Jublee Life Insurance Company Limited (NJLI). The fresh acquisition of 5.4 million more ordinary stocks has increased the aggregate shareholding in the insurance company to 17.95 percent.
In September last year, HBL acquired additional 5.4 million ordinary shares of the NJIL at Rs 10 each, the bank informed its shareholders at Karachi Stock Exchange as required under Section 4(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance 2002. Until September 20, HBL held 5.855 million ordinary shares in the issued share capital of New Jublee Life Insurance Company Limited that represented 9.33 percent of the total issued share capital of the insurance firm, HBL said.
HBL shares in NJLI rise to 18 percent
