Intermarket Securities submits PAI to acquire 51% stake in EFG Hermes

MG News | February 15, 2023 at 09:50 AM GMT+05:00

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February 15, 2023 (MLN): Intermarket Securities Limited (Acquirer) through its manager to offer Multiline Securities Limited has submitted a Public Announcement of Intention (PAI) to acquire at least 51% shareholding and control of EFG Hermes Pakistan Limited, the notice sent to PSX said.

“It is notified that EFG Hermes has received an intention from Intermarket Securities Limited to acquire at least 51% of the voting shares and control of the target company on February 14, 2023,” the notification read.

EFG Hermes is a Trading Right Entitlement Certificate (TREC) Holder of the PSX and a licensed Securities Broker registered with the SECP.

Furthermore, the company is engaged in financial brokerage, corporate finance, and financial research and is well-positioned to respond to the dynamic business environment.

Intermarket Securities is a market-leading full-service brokerage platform offering trade execution/settlement, investment banking & advisory as well as equities, and economic research.

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