Karachi: AKD Securities Limited has formally announced its intention to facilitate the acquisition of up to 6.02% of the issued and paid-up share capital and control of Escorts Investment Bank Limited. The announcement, dated January 21, 2026, comes under the regulation of the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Acting on behalf of Mr. Kamran Malik and Mr. Sheikh Ali Baakza, AKD Securities has been appointed as the Manager to the Offer. The acquisition will be pursued through a Share Purchase Agreement and a Public Offer, with the intended acquisition of 119,279,077 shares representing 87.9639% of the target company. The public offer aims to acquire an additional 6.02%, equivalent to 8,160,462 shares.
According to information available from the Pakistan Stock Exchange (PSX), the public announcement of intention is scheduled for publication in both English and Urdu newspapers on January 23, 2026. The completion of the acquisition is contingent upon receiving requisite approvals from the Securities and Exchange Commission of Pakistan (SECP).
The Acquirers, Kamran Malik and Sheikh Ali Baakza, are seasoned professionals with extensive experience in financial and business sectors. Mr. Malik, based in Geneva, Switzerland, holds significant expertise in wealth management and investment advisory services, while Mr. Baakza, based in Karachi, Pakistan, brings a wealth of experience in international trade and logistics.
As part of the regulatory process, the acquisition will also require the approval of the Board of Directors of Escorts Investment Bank Limited. The primary shareholder of the target company is Bahria Town (Private) Limited, holding 87.9639% of the shares, followed by the general public with 12.0133%.
The acquisition aims to align with the strategic interests of the Acquirers, pending the necessary regulatory clearances. The announcement underscores the dynamic nature of the market, as stakeholders await further developments in the acquisition proceedings.