Hub Power to buy 9.5% stake in Sindh Engro Coal Mining

By MG News | February 16, 2024 at 04:12 PM GMT+05:00

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February 16, 2024 (MLN): The Hub Power Company Limited (PSX: HUBC) has entered into a definitive agreement for the acquisition of shares of Sindh Engro Coal Mining Company Limited (SECMC), the latest notice issued by the company on the coal bourse showed today.

The proposed transaction consists approximately 9.5% of the issued and paid-up ordinary share capital of SECMC, currently held by Habib Bank Limited.

The completion of the proposed transaction is subject to the necessary corporate and regulatory approvals and consents, along with other conditions.

"The Company shall keep the PSX informed in respect of material developments in this respect, if any," the notice further reads.

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