Acquirers withdraw plan to purchase up to 6.02% stake in Escorts Investment Bank

AKD Securities Limited has called off a proposed purchase of up to 6.02% of Escorts Investment Bank’s issued share capital, along with the intended transfer of control. Profit by Pakistan Today reported that AKD’s November 2 notice to the Pakistan Stock Exchange said the plan had been pursued for Kamran Malik and Sheikh Ali Baakza.

The intention was first disclosed on January 23, 2026, and depended on regulatory clearances. AKD, which was managing the offer, said the period for issuing a formal offer ended on November 1; the withdrawal therefore took effect when that deadline passed, under the applicable takeover regulations and Securities Act. The notice was also sent to the SECP and Escorts Investment Bank.