EFG Hermes will acquire 51% of Pakistan’s Invest & Finance Securities Limited

Last updated: August 26, 2016 3:11 pm

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Revenues in Q3 advanced 14% to reach EGP 668m Courtesy of EFG Hermes

EFG Hermes informed the Egyptian Exchange on Thursday that it has entered into a Share and Purchase Agreement (SPA) with shareholders owning Pakistan’s Invest & Finance Securities Limited (IFSL).

According to the EFG Hermes statement, the agreement will see that EFG Hermes acquires 51% of the company’s total outstanding shares at a price of 15 Pakistani Rupees per share.

IFSL is a financial services company that is publicly traded on the Pakistani Stock Exchange with brokerage, corporate finance, and research arms.

This comes in line with the EFG Hermes’s strategy of transforming into a financial services corporation, which entails expansion into a number of frontier markets and diversifying their product offerings.

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By Mohamed Samir

Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/