Analyst
Afnan Iqbal
afnan.iqbal@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Broker Management Rating of Alfalah CLSA Securities (Pvt.) Limited
Rating Type | Broker Management | |
Current (26-Apr-23 ) |
Previous (29-Apr-22 ) |
|
Action | Withdraw | Maintain |
Long Term | - | BMR2+ |
Short Term | - | - |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to the management's decision to discontinue the Broker Management Rating, PACRA withdraws the Broker Management Rating of Alfalah CLSA Securities (Pvt.) Limited.
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About
the Entity
Alfalah CLSA Securities (Pvt.) Limited is a TREC holder of the Pakistan Stock Exchange. ACLSA was incorporated in 2003 as a Private Limited Company and has been operating since 2004. ACLSA is registered with SECP under Securities Brokers Regulations 2016. ACLSA is primarily owned by Bank Alfalah Limited with a stake of ~62% while ~25% shares are vested with CLSA Limited. The Company’s board is comprised of six members, including the CEO. Four members represent Bank Alfalah Limited while Mr. Edward Park, represents CLSA. Mr. Asim Wajid is entrusted with the responsibility of Chairman of the Board. The CEO, Mr. Atif Mohammed is a qualified professional having over 24 years of experience in Equity Brokerage and Capital Markets with reputable institutions.