Escorts Investment Bank acquisition offer timeline extended by 90 days

MG News | July 31, 2026 at 12:50 PM GMT+05:00

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July 31, 2026 (MLN): Escorts Investment Bank Limited's (PSX:ESBL) acquisition offer timeline has been pushed back by ninety days.

Mr. Kamran Malik and Mr. Sheikh Ali Baakza, the Acquirers, have extended the date for their Public Announcement of Offer under Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, the company’s filing on PSX revealed today.

The Acquirers are seeking to acquire up to 6.02% of the issued paid-up share capital and control of the Target Company.

They had earlier filed a Public Announcement of Intention (PAI) on January 23, 2026, subject to the receipt of regulatory approvals, if any.

AKD Securities Limited, acting as Manager to the Offer, intimated the extension to the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange on behalf of the Acquirers.

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