AKD withdraws PAI to buy 51% stakes of EFG Hermes

MG News | January 26, 2023 at 04:56 PM GMT+05:00

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January 26, 2023 (MLN): AKD Group Holdings (Pvt) Limited has withdrawn the Public Announcement of Intention (PAI) to acquire at least 51% of the issued and outstanding ordinary shares and control in EFG Hermes Pakistan Limited, a notice issued by the company to PSX showed.

On January 25, 2023, the manager to the offer AKD Securities limited informed PSX that AKD Group wants to acquire at least 51% of the issued and outstanding ordinary shares and control in EFG Hermes.

At the time of writing, the scrip of the EFG Hermes is valued at Rs14, posting no change on Thursday.

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