United Insurance to disinvest 59.9mn shares in Apna Microfinance Bank

The United Insurance Company of Pakistan Limited (UIC) has announced plans to disinvest 59.94 million ordinary shares in Apna Microfinance Bank Limited, according to a filing by the company at the Pakistan Stock Exchange (PSX) on Thursday. 

“We hereby convey that the Board of Directors of The United Insurance Company of Pakistan Limited (UIC) in their meeting held at 11:00 (a.m.) on March 26, 2025, approved the disinvestment of 59,940,632 Ordinary Shares of Apna Microfinance Bank Limited,” read the notice sent to the PSX. 

The decision was made during a board meeting held on March 26, 2025, and the disinvestment is expected to impact UIC’s shareholding in the microfinance bank. 

This disinvestment is subject to the approval from shareholders in its forthcoming Annual General Meeting scheduled on April 25, 2025.