Leading power company of China, Shanghai Electric is again showing its interest in the acquisition of K-Electric shares.
Shanghai Electric make announcement of KE acquisition through purchasing K-Electric shares. According to sources, K-Electric received the Public Announcement of Intention from Shanghai Electric Power Company Limited. However, it is about the acquisition of 66.40% of voting shares of the K-Electric.
The offer is to secure 18,336 million normal shares of K-Electric Limited of about 66.4% of the aggregate issued share capital of KE, subject to receipt of imperative administrative and different endorsements.
For the predetermined exchange, Arif Habib Limited will go about as the manager to offer.
Prior, Shanghai Electric has recently bombed in anchoring the required administrative endorsements in the given time because of pending issues over the most recent two years.
The declaration was made with reference to the Notice of Withdrawal dated March 29, 2018 and December 21, 2018 because of the pass in the recommended day and age for making an open declaration of offer, as reached out by Securities and Exchange Commission of Pakistan or SECP.