Cairo – Mubasher: EFG-Hermes Holding said Sunday it is planning to acquire a 51% stake in Pakistan’s Invest & Finance Securities Limited.
The deal is pending the approval of the group’s board, in addition completion of auditing and due-diligence and the fulfillment of some regulatory procedures.
Invest & Finance Securities Limited is a listed company on the Karachi Stock Exchange since 20 March 2008. The company, which has branches at Karachi and Lahore, is engaged in financial brokerage, corporate finance and financial research, according to the company’s website.
The Pakistani company has a total shareholder equity of $1.9 million at the end of 2015.
