Pakistan - Foundation Securities (Pvt) Limited ("FSL"), a leading Pakistan securities company, and Macquarie Capital Securities Limited, an affiliate of global financial institution Macquarie Group (Macquarie, ASX:MQG), have signed a strategic co-operation agreement covering investment banking and securities operations.
The initial agreement enables Macquarie's clients to receive co-branded equity research focused on Pakistan and to trade equities in Pakistan, one of Asia's key emerging markets. It also gives FSL's clients access to Macquarie's leading presence in global financial markets. The agreement includes exclusive partnering arrangements between FSL and Macquarie in relation to in-bound and out-bound equity capital markets transactions, mergers and acquisitions, and other corporate finance advisory work.
"This is a landmark agreement in one of Asia's most untapped markets and helps Macquarie bring further focus to the region's frontier markets," said Mark Duncan, Head of Macquarie Securities Group, Asia. Macquarie continues to grow its Asia franchise and expand its footprint in emerging markets. In 2010 it signed wide-ranging co-operation agreements with VinaSecurities, a leading Vietnamese securities company, and BRAC-EPL, a leading investment bank in Bangladesh.-PR