Bahria Town set to exit Escorts Investment Bank

November 10, 2026 (MLN): Control of Escorts Investment Bank Limited is set to change hands, with Kamran Malik and Sheikh Ali Baakza planning to buy the 87.9639% stake held by Bahria Town (Private) Limited and to make a public offer for a further 6.02% of the bank’s shares.

The acquisition covers 119,279,077 shares through a share purchase agreement and 8,160,462 shares through a public offer. AKD Securities Limited is the Manager to the Offer. The public announcement of intention is due to be published in newspaper on November 12, 2026.

 Completion of the deal depends on all regulatory and corporate approvals, including those of the SECP and the target company’s Board of Directors.

The announcement may be withdrawn if the regulator does not grant approval. The acquirers currently hold no voting rights in the bank, nor do any persons acting in concert with them. They have no irrevocable commitments to accept the offer and no options, warrants or convertible securities.

Kamran Malik is a wealth management professional with a 28-year international career at ABN AMRO, Credit Suisse, Julius Baer and UBS. He serves the South Asian and African diaspora from the US, Dubai, London and Geneva, where he is currently based, and is pursuing a doctorate in digital currencies.

Sheikh Ali Baakza is Chairman and Managing Director of the Unicorn Group, with experience in international trade, shipping and port logistics, and aviation technology services, including commodity trading, bulk cargo handling and airport systems management.

Sheikh Ali Baakza holds more than 30% of the voting shares in seven companies, all incorporated in Karachi:

Escorts Investment Bank has 135.6 million ordinary shares of Rs10 each in issue and has been listed since 1996. Its board comprises Chairman Syed Tahir Nawazish, Director/CEO Basit Rehman Malik, and Directors Madiha Arooj and Muhammad Rasheed Alam. Its shareholding as of June 30, 2026 is below.

 The bank’s shares closed at Rs12.14 on November 6, 2026, a trading day before the announcement. The weighted average price over the 28 days preceding the announcement was Rs12.94 per share.

The bank has posted losses in each of the last five years and paid no dividend. Its net loss widened to Rs73.79m in FY26 from Rs68.40m a year earlier, while loss per share rose to Rs0.54 from Rs0.50.

 The aforementioned information was disseminated through a notification to Exchange.

Copyright Mettis Link News