EFG Hermes picks up 51 percent stake in Pakistani securities company

KARACHI: EFG Hermes after entering into a Share and Purchage Agreement (SPA) with shareholders of Invest and Finance Securities in Pakistan has acquired 51% stake in the Karachi based securities company at a price of Rs. 15 per share.

Invest and Finance entered into an SPA with EFG on Wednesday the 24th and the 10.2 million shares transaction worth Rs. 153.119 million will be completed after all regulatory approvals required are met.