AKD Securities Limited has announced the withdrawal of its public announcement of intention to acquire up to 6.02% of the issued and paid-up share capital of Escorts Investment Bank Limited.
- The initial public announcement was made on January 23, 2026, by Mr. Kamran Malik and Mr. Sheikh Ali Baakza as acquirers.
- The intended acquisition was subject to regulatory approvals and aimed at gaining control of the target company.
- The time period for making a public offer lapsed on November 1, 2026, leading to the withdrawal of the announcement.
- This withdrawal is in accordance with Regulation 21(1)(e) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017.
- The sentiment reflects uncertainty for shareholders of Escorts Investment Bank due to the failed acquisition attempt.