Lucky Cement-led consortium shortlisted for due diligence on IESCO

October 27, 2026 (MLN): Lucky Cement Limited (PSX:LUCK), together with Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Limited, has been pre-qualified and shortlisted by the Privatisation Commission as a consortium to conduct financial, technical and legal due diligence on Islamabad Electric Supply Company Limited (IESCO).

The consortium is eyeing a 51 to 100 % equity stake in IESCO along with management control, as the government offers the company for divestment through its privatization process.

The consortium submitted an Expression of Interest and Statement of Qualification for the proposed acquisition and was pre-qualified along with other interested parties.

Under applicable privatization laws, the equity stake in IESCO will ultimately be offered through a competitive bidding process.

Neither Lucky Cement nor the consortium has entered into any binding commitment with any party for acquiring equity in IESCO.

Any such commitment would only follow satisfactory completion of due diligence, receipt of all applicable corporate and regulatory approvals, and a determination that the transaction is commercially viable.

At this stage, the company, through the consortium, intends only to carry out a comprehensive due diligence exercise and assess the viability of the potential acquisition.

The aforementioned information was disseminated through a notification to Exchange.

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