Update on Entity Ratings of BIPL Securities Limited

Karachi, August 03, 2022 (PPI-OT):VIS Credit Rating Company Ltd. (VIS) notes that the Honourable 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 more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/