Karachi – AKD Securities Limited announced on Tuesday that its public announcement of intention (PAI) to acquire up to 6.02% of the issued paid-up share capital of Escorts Investment Bank Limited has been formally withdrawn. The withdrawal follows the expiration of the statutory timeline for making the public announcement of the offer on January 16, 2026, according to a notice submitted to the Pakistan Stock Exchange (PSX).
Acting as the manager to the offer, AKD Securities clarified that the PAI lapsed because the acquiring parties are still in the process of fulfilling certain conditions precedent under the share purchase agreement (SPA). Despite the lapse, the acquirers remain fully committed to completing the transaction once the conditions outlined in the SPA are satisfied.
“The acquirers continue to be fully committed to concluding the transaction subject to the satisfaction of the conditions set out in the Share Purchase Agreement,” the notice stated. It further noted that a fresh public announcement of intention will be issued through the PSX and published in the same newspapers, in line with the prescribed legal and regulatory formalities.
The decision to withdraw and re-announce the PAI is aimed at ensuring full compliance with the applicable laws and regulatory framework governing public offers in Pakistan. This step underscores AKD Securities’ commitment to transparency and adherence to corporate governance standards.
Market analysts noted that the withdrawal does not indicate a change in the intent to acquire the stake in Escorts Investment Bank, but rather reflects procedural diligence. The acquisition, once completed, is expected to strengthen strategic holdings and potentially influence the bank’s shareholder structure.
AKD Securities has played a prominent role in managing corporate transactions in Pakistan, including public offerings, mergers, and acquisitions. The company’s meticulous approach to regulatory compliance has positioned it as a trusted partner for both acquiring and target entities in the financial sector.
Escorts Investment Bank Limited, a well-established player in Pakistan’s banking and financial services landscape, stands to gain from the transaction in terms of capital infusion and potential strategic collaboration. Once all conditions precedent are fulfilled and the PAI is reissued, the market will have clarity on the timing and execution of the acquisition.
This development comes amid a broader trend in Pakistan’s financial sector, where acquisitions and strategic shareholding adjustments are becoming more common as banks and investment firms seek to strengthen their market positioning and expand operational capabilities.
The fresh announcement of PAI will provide investors with an updated timeline and details regarding the offer, maintaining transparency and compliance with the PSX regulations. The market is expected to closely monitor the transaction, given its potential implications for both AKD Securities and Escorts Investment Bank.
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