AKD Securities withdraws PAI for 6.02% stake in Escorts Investment Bank

AKD Securities Limited announced on Tuesday that the public announcement of intention (PAI) to acquire up to 6.02% of the issued paid-up share capital of Escorts Investment Bank Limited was formally withdrawn after the statutory timeline for making the public announcement of offer expired on January 16, 2026.

This was shared in a notice to the Pakistan Stock Exchange (PSX) today.

AKD, acting as manager to the offer, said that the announcement lapsed as the acquiring parties were still in the process of fulfilling certain conditions precedent under the share purchase agreement.

“The acquirers continue to be fully committed to concluding the transaction subject to the satisfaction of the conditions set out in the Share Purchase Agreement (SPA).

The fresh announcement of PAI shall be notified through the PSX and shall also be published in the same newspapers in accordance with the prescribed formalities,” the notice said.

The notice added that the withdrawal and planned re-announcement are being undertaken to ensure full compliance with the applicable legal and regulatory framework.