Shanghai Electric allows to make offer for K-Electric till June 26

KARACHI: Securities and Exchange Commission of Pakistan (SECP) has granted extension of 90 days to make public announcement of offer by Shanghai Electric Power Company Limited to acquire shares of K-Electric.

In an announcement on Monday, K-Electric with reference to the public announcement to acquire 66.4 percent shares of K-Electric Limited made by the acquirer on September 30, 2019, Arif Habib Limited is acting in the capacity of Manager to the Offer for the acquisition.

As part of the acquisition process, the acquirer had requested an extension of 90 days in making public announcement of offer which was to be made by March 28, 2020 as per the law.

In this regard SECP granted extension of 90 days up to June 26, 2020.

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