As On: May-18-2024 | 10:37 PM

Akseer Research has acquired an additional 13.5% shares in Alfa Adhi Securities (Private Limited); increasing its shareholding to 25% in the brokerage firm

Published July 30, 2021

Karachi, Pakistan: Akseer Research, the largest Research, and Analytics firm in Pakistan has acquired an additional 13.5% shareholding in Alfa Adhi Securities (Pvt.) Ltd. With the recent share purchase, the total shareholding of Akseer in Alfa Adhi has increased to 25%. The acquisition of Alfa Adhi is line with Akseer’s strategy to leverage its Research and Analytics related BPO and technology expertise to create a state-of-the-art financial services platform for investors in Pakistan and beyond.

Akseer signed an SPA in the first quarter of the fiscal year 2020-21, to acquire a majority stake in Alfa Adhi, subject to certain conditions. The SPA allows a phased increase in shareholding as and when the conditions are met.

Azfer Naseem, CFA has been appointed as the CEO of Alfa Adhi Securities effective January 2021. Azfer has over 13 years of rich capital markets experience spanning across Equity Research and Advisory. Before joining Alfa Adhi Securities as CEO, Azfer worked as Cofounder and CEO of Akseer Research for five years and led the company’s growth journey from its budding stages to a diversified client base across 5 countries. In the past, Azfer has worked with leading brokerage names in Pakistan including BMA Capital, Elixir Securities and Invisor Securities.

About Akseer Research: Akseer is a Research & Analytics focused Technology and Business Process Outsourcing firm with a client base spread across 3 continents. Akseer has delivered projects across 55 sectors and 20 countries.

About Alfa Adhi Securities: Alfa Adhi Securities (Pvt.) Ltd. is a securities brokerage firm registered with the Pakistan Stock Exchange. The Company has been operational since 1985 and has a rich history spanning more than 35 years.