EFG Hermes subsidiary acquires majority stake in Invest & Finance Securities

EFG Hermes subsidiary EFG Hermes Frontier Holding LLC has completed the acquisition of 51% of Invest & Finance Securities Ltd (IFSL) at a price of PKR15 a share.

In all, it had acquired 10.2m shares in Invest & Finance Securities.

This followed EFG Hermes Frontier Holding signing a share purchase agreement with sponsored shareholders owning about 78% of the Pakistan-listed IFSL in August 2016.