EFG Hermes receives addendum to takeover bid by Intermarket Securities

By MG News | January 15, 2024 at 12:26 PM GMT+05:00

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January 15, 2024 (MLN): EFG Hermes Pakistan Limited (PSX: EFGH) has received an addendum regarding the intention to acquire at least 51% shareholding and control of EFGH by Intermarket Securities Limited, the company informed through a notice sent to the PSX today.

This update pertains to the initial public announcement of intention made by Intermarket Securities Limited on November 21, 2023, with the objective of acquiring at least 51% of the voting shares and control of the EFGH.

This addendum to the public announcement of intention has already been notified to the Board of Directors (BoD) of EFGH, the notice said.

Multiline Securities Limited is the manager for this offer.

EFGH is a corporate member of Pakistan Mercantile Exchange Limited and acts as a service provider with MUFAP.

It is engaged in financial brokerage, corporate finance, and financial research.

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