Escorts Investment Bank Announces Extension in Offer Timeline for 6% Stake Acquisition

Escorts Investment Bank Limited has formally notified the Pakistan Stock Exchange (PSX) and the Securities & Exchange Commission of Pakistan (SECP) about an extension in the timeline for a public offer to acquire up to 6.02% of its issued paid-up share capital and control. In a letter addressed to the PSX and SECP, AKD Securities stated that the acquirers have extended the date for the Public Announcement of Offer by 90 days, in accordance with Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The extension is subject to regulatory approvals. According to an official intimation sent by Escorts Investment Bank on October 9, 2025, the extension was requested by AKD Securities Limited, which is acting as the manager to the offer on behalf of the acquirers, Mr. Kamran Malik and Sheikh Ali Baakza. The original Public Announcement of Intention (PAI) to acquire the stake was published on April 21, 2025. The bank has requested the PSX to inform all TRE Certificate holders of the development. The SECP’s Surveillance, Supervision, and Enforcement Department has also been notified. The proposed acquisition, if completed, would see Mr. Kamran Malik and Sheikh Ali Baakza take a significant minority stake and control in Escorts Investment Bank Limited, pending regulatory clearance.