IGCF has no controlling interest in KEL

MG News | October 18, 2022 at 11:11 AM GMT+05:00

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October 18, 2022 (MLN): K-Electric clarifies the news regarding the article “KE’s controlling stake sale nears to completion abroad, unbeknown to Pakistan” and confirmed that Infrastructure and Growth Capital Fund (IGCF) have no controlling interest in KE, the company’s filings on the Pakistan Stock Exchange showed on Tuesday.

In the filing, “IGCF an indirect shareholder of KEL has confirmed that the assertions made in the news article include incorrect and misleading statements”.

Moreover, IGCF has acknowledged potential changes with respect to the General Partner and certain institutional investors of IGCF that there is no transaction being contemplated that would result in any direct and indirect changes in IGFC’S shareholding interest in K-Electric.

The said institutional investors cannot be considered indirect shareholders of KEL merely by virtue of their investment in IGCF (a private investment fund), it added.

KEL has not been informed of any specifics regarding the potential transaction.

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