AKD Securities Limited intends to acquire 77.1% stake in BIPL Securities Limited (KASE:BIPLS) from BankIslami Pakistan Limited (KASE:BIPL) on February 28, 2020. AKD Securities Limited signed an agreement to 77.1% stake in BIPL Securities Limited (KASE:BIPLS) from BankIslami Pakistan Limited (KASE:BIPL) for approximately PKR 660 million on November 25, 2020. Under the terms, AKD Securities Limited will acquire 77.12 million shares at PKR 8.6 each. As of August 20, 2020 the public announcement offer is extended to November 24, 2020. As of November 20, 2020, transaction is approved by the Board of Directors of BankIslami Pakistan Limited. As of January 21, 2021, transaction is approved by the shareholders of BankIslami Pakistan Limited. Topline Securities Limited acted as manager of offer to AKD Securities Limited.

AKD Securities Limited completed the acquisition of 77.1% stake in BIPL Securities Limited (KASE:BIPLS) from BankIslami Pakistan Limited (KASE:BIPL) on June 29, 2021. The transaction is approved by the Securities and Exchange Commission of Pakistan.