JS Bank Subsidiary Wants to Acquire EFG Hermes Pakistan Ltd.

JS Global Capital Limited (JSGCL), a subsidiary of JS Bank Limited, is seeking to acquire the brokerage firm, EFG Hermes Pakistan Limited.

In a stock filing, JS Global made a disclosure of public announcement of its intention to acquire majority shareholding and control of EFG Hermes Pakistan Limited. The public announcement of intention by JSGCL has been made under section 114 of the Securities Act, 2015.

EFG Hermes, the leading financial services corporation in the Middle East and Africa, entered Pakistan back in 2017 by opening its office, making it the first foreign investment bank to directly enter the market since 2008 and the first foreign broker to have a local footprint in the country.

The opening followed the firm’s acquisition of Pakistani brokerage Invest and Finance Securities Ltd. (IFSL).