Karachi: AKD Securities Limited has publicly announced its intention to acquire a significant share in Escorts Investment Bank Limited, as disclosed on January 21, 2026. This move, initiated by the acquirers Mr. Kamran Malik and Mr. Sheikh Ali Baakza, aims to secure up to 6.02% of the bank’s issued and paid-up share capital, alongside control of the institution, in accordance with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The acquisition process, as outlined in the public announcement, involves a Share Purchase Agreement for 119,279,077 shares, representing 87.9639% of the target company, and a Public Offer for an additional 8,160,462 shares, which equates to 6.02% of the total issued shares. The public announcement is scheduled for publication in one English and one Urdu language newspaper on January 23, 2026. The completion of this acquisition is contingent upon receiving the necessary regulatory approvals from authorities, including the Securities and Exchange Commission of Pakistan (SECP).
According to information available from the Pakistan Stock Exchange (PSX), the acquisition represents a very large or significant move in the market. The designated market category for this transaction involves the acquisition of voting shares and control within the financial sector, specifically targeting the operations of Escorts Investment Bank Limited.
The acquirers, Mr. Kamran Malik and Mr. Sheikh Ali Baakza, hold significant positions in several companies, with Sheikh Ali Baakza acting as CEO in multiple enterprises, including Ace International Pvt. Ltd., Unicorn Commodities Pvt. Ltd., and Agro Allianz Limited. Mr. Kamran Malik is based in Geneva, Switzerland, while Sheikh Ali Baakza is located in Karachi, Pakistan.
Escorts Investment Bank Limited’s current majority shareholder, Bahria Town (Private) Limited, owns 87.9639% of the shares. The remaining shares are held by the general public and other minor shareholders, accounting for 12.0133% and 0.0228%, respectively. The proposed acquisition, if successful, will significantly alter the control and ownership structure of the bank, pending necessary approvals.