July 08, 2026 (MLN): A 51% stake in Askari General Insurance Company Limited (PSX: AGIC) will be transferred from Army Welfare Trust (“AWT”) to Fauji Foundation (“FF”) at a carrying cost of Rs17.06 per share, subject to applicable regulatory approvals and codal formalities, according to a notice sent to the Pakistan Stock Exchange.
AWT currently holds 60.23% of AGIC shares. AWT is a charitable/non-profit organization registered under the Societies Registration Act, 1860, dedicated to serving Army welfare through commercial investments.
FF, registered under the Charitable Endowments Act, focuses on health, education, and human development for families of ex-servicemen, funded entirely by its commercial ventures.
Both AWT and FF are managed by their respective Committees of Administrations, maintaining ultimate control.
This transaction is not an acquisition, merger, or control change in commercial terms and will not affect market dynamics or competition. It also preserves AGIC’s ultimate beneficial control.
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