CCP approves merger of Intermarket Securities with EFG Hermes Pakistan

Merger will result in a slight increase in EFG’s market share

The Competition Commission of Pakistan (CCP) has approved a scheme of arrangements for the merger of Intermarket Securities Ltd (IMS) with EFG Hermes Pakistan Ltd (EFG).

The Phase-I competition assessment by the CCP identified ‘Brokerage Services’ as the relevant product market. The assessment revealed that post-transaction, IMS will dissolve without winding up, and EFG will be the surviving entity.

Under the scheme, the agreed swap ratio for the transaction is 2.16:1, where for every one share of IMS, EFG will issue 2.16 shares to IMS shareholders.

The assessment confirmed that post-transaction, the merger will result in a slight increase in EFG’s market share, without leading to dominance in the brokerage market.

IMS is a publicly unlisted company providing brokerage services. EFG, a publicly listed company, offers brokerage services in stocks and financial brokerage, corporate finance, and financial research.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.


Please enter your comment!
Please enter your name here

Must Read

Roshan Digital Account remittances rise over $8.055 billion by May

Overseas Pakistanis invest $338 million in Naya Pakistan Certificates, $582 million in Naya Pakistan Islamic Certificates, and $37 million in Roshan Equity Investment by end of May