KARACHI: A Chinese Electric company, Shanghai Electric Power Company Limited, has shown its intention to buy the majority shares of the K-Electric through its manager at the Pakistan Stock Exchange (PSX) on Tuesday.
On behalf of the Chinese Electric company, Arif Habib Limited (AHL), which serves as its manager in Pakistan, **tified the PSX on Tuesday regarding the intention.“We are pleased to submit a Public An**uncement of Intention by Shanghai Electric Power Company Limited to directly or indirectly acquire up to Rs18.335 billion ordinary shares of K-Electric Limited (the target company) representing 66.40 percent of the total issued share capital of the target company,” said the AHL **tification.The acquisition of shares is subject to due diligence and execution of definitive agreements.
08-31-2016, 04:46 AM
Shanghai Electric to buy over Rs18 bn shares of K-Electric
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