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CLSA Heads Back to Pakistan in China Belt-And-Road Push

  • Brokerage agrees to buy a 24.9% stake in Alfalah Securities
  • Seeks to focus on markets in China Belt and Road Initiative
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CLSA Ltd. is returning to Pakistan after almost two decades, as the company controlled by China’s biggest brokerage steps up its expansion into markets that are part of the government’s Belt And Road Initiative.

Hong Kong-based CLSA agreed to buy a 24.9 percent stake in the securities unit of Bank Alfalah, which is backed by the World Bank’s International Finance Corp., according to a statement on Thursday. The joint venture will be chaired by Aliuddin Ansari, who was chief executive officer at one of Pakistan’s largest conglomerates and previously CEO for the local unit of Credit Lyonnais Securities Asia (CLSA). Ansari and Alfalah Securities CEO Atif Khan will acquire a combined 12.6 percent stake, with the deal expected to be completed by November.