Press Release

Update on Entity Ratings of BIPL Securities Limited

Karachi, August 3, 2022: VIS Credit Rating Company Ltd. (VIS) notes that the Honorable Sindh High Court, Karachi vide its order dated 03 June 2022, has sanctioned the merger of AKD Securities Limited (AKDS) with and into BIPL Securities Limited (BIPLS). BIPLS is the surviving entity as a result of the aforesaid merger. The surviving company has been renamed as "AKD Securities Limited" as of 25 July 2022, with operational merger of BIPLS and AKDS becoming effective from 01 August 2022.

For any further information on this rating, please refer to “AKD Securities Limited” on our website.


For further information on this rating announcement, please contact Ms. Sara Ahmed (Ext: 207) at (021) 35311861-66 or email at info@vis.com.pk.





Sara Ahmed
Director

Applicable rating criteria: Methodology - Securities Firms Rating (July 2020)
https://docs.vis.com.pk/docs/SecuritiesFirm202007.pdf

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