Intermarket Securities Limited has approved the incorporation of a wholly owned subsidiary, to be named AFT Pakistan, as part of its expansion into automobile trading through IT-enabled platforms, according to a notice submitted to the Pakistan Stock Exchange on Tuesday.
The decision was taken during a meeting of the company’s board of directors held on January 5, 2026, subject to regulatory approvals where required.
The board also approved an investment of Rs150 million in AFT Japan Co., Ltd through the proposed subsidiary, in continuation of an earlier announcement made on September 2, 2025.
In a clarification to the exchange, the company said that the name of the associated overseas entity had previously been mentioned incorrectly as ATF Japan Co., Ltd, and has now been corrected to AFT Japan Co., Ltd.
The company requested dissemination of the information to TREC holders and other relevant stakeholders in line with disclosure requirements under the Securities Act, 2015 and PSX regulations.
Intermarket Securities Limited, formerly EFG Hermes Pakistan Limited, was incorporated on September 27, 1999, under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) as a Private Limited Company. In November 2006, it was converted into a Public Unquoted Company. Effective from March 20, 2008, the company was listed on the Pakistan Stock Exchange Limited.