Karachi March 11 2022: Manager to the Offer on behalf of the Acquirers, Mr. Mian Javaid Akhtar, Mr. Mohammad Ali Kazmi and Mr. Mian Zeeshan Javaid (the “Acquirers”) submit a Public Announcement of Intention to acquire more than 50 percent of the Issued and Paid-up Share Capital of Escorts Investment Bank Limited (the “Target Company”) together with management control.
Bahria Town (Pvt) Limited holds 87.96 percent or 119.279 million shares of Escort Bank Limited.
Escorts Investment Bank Limited was incorporated in Pakistan under the provisions of Companies Ordinance, 1984 on 15 May 1995The Company is licensed to carry out investment finance services, as a Non-Banking Finance Company under Section 282-C of the Companies Ordinance, 1984 and Nonbanking Finance Companies (Establishment and Regulations) Rules, 2003. The Company is a subsidiary of Bahria Town (Private) Limited.
