Acquirers submit renewed public announcement of intention to acquire 6.02% of Escorts Investment Bank

AKD Securities Limited, acting as the Manager to the Offer, has submitted a renewed Public Announcement of Intention (PAI) to acquire over 6.02% of the issued and paid-up share capital and control of Escorts Investment Bank Limited. 

The brokerage firm filed this declaration of intent on behalf of Mr. Kamran Malik and Mr. Sheikh Ali Baakza in accordance with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. 

“We, AKD Securities Limited, have been appointed as the Manager to the Offer by Mr. Kamran Malik and Mr. Sheikh Ali Baakza (the "Acquirers"), in accordance with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. On behalf of the Acquirer, we are pleased to submit a Public Announcement of Intention to acquire more than 6.02% of the issued and paid-up share capital and control of Escorts Investment Bank Limited ("Target Company"), subject to receipt of the regulatory approvals, if any,” read AKD’s notice sent to the Pakistan Stock Exchange (PSX).

AKD Securities said that this Public Announcement of Intention, subject to regulatory approvals, is intended to be published in newspapers on January 23, 2026. 

This new PAI followed an earlier declaration of intent, which was withdrawn by acquirers after the statutory timeline for making the public announcement of offer expired on January 16, 2026.

AKD Securities clarified that the acquirers remain committed to completing the transaction once the outstanding conditions under the agreement are satisfied.