United Insurance Company of Pakistan and its group companies have signed a share purchase agreement to sell their entire collective stake to Mobilink Bank, subject to regulatory approvals.

Mobilink Microfinance Bank Limited has entered into an agreement to acquire an 82.51 per cent stake in Apna Microfinance Bank Limited, according to a filing submitted to the Pakistan Stock Exchange (PSX) on Friday.

The United Insurance Company of Pakistan Limited (UICL) informed Apna Microfinance Bank that it, along with its group companies, had signed a share purchase agreement with Mobilink Bank for the sale and transfer of their entire collective shareholding in the bank.

The proposed acquisition follows the public announcement of intention issued on March 12, 2026, and a subsequent extension notification dated September 7, 2026.

Apna Microfinance Bank disclosed the material information under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

However, the transaction remains subject to obtaining all necessary corporate, regulatory and third-party approvals before completion.

The acquisition represents a significant development in Pakistan’s microfinance banking sector, with Mobilink Bank seeking to expand its presence through the proposed purchase of the majority stake in Apna Microfinance Bank.

Further details regarding the completion of the transaction are expected following the fulfilment of the required approval process.