Corporate Alert: KAPCO considers a bid to acquire up to 14.91% of HUBCO stake being divested by Dawood Hercules Corporation

In a notice informing the relevant stakeholders, Kot Addu Power Company Ltd. (KAPCO) has informed that subject to requisite corporate and regulatory approvals, a strategic plan is to be considered/evaluated by the Board of Directors and if considered appropriate a bid will be submitted to acquire 172,582,000 ordinary shares (constituting 14.91%) of the Hub Power Company Ltd. (HUBCO), which are being currently offered by Dawood Hercules Company Ltd. (DHCL) and an additional number of 28,502,105 ordinary shares (constituting 2.46%) of HUBCO being offered by some other shareholders.

The original notice was revoked and a new one was issued at 11:16 a.m.