Infrastructure & Growth Capital LP ends indirect stake in K-Electric

MG News | July 08, 2024 at 01:29 PM GMT+05:00

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July 08, 2024 (MLN): K-Electric Limited (PSX: KEL) has informed today that Infrastructure & Growth Capital LP has distributed all the shares it held in K-Power Holding Limited (KPH) (formerly IGCF SPV 26) to its Limited Partners.

Following this distribution, the fund no longer has any indirect interest in KE.

The electricity provider referred to a copy of a letter dated July 05, 2024, from the beneficial owner of Sage Venture Group Limited (SVGL), an indirect shareholder of the company.

Further, the letter states that the said distribution did not change the Ultimate Beneficial Ownership of IGCF SPV 21 Limited, which is an indirect shareholder of K-Electric.

Moreover, the letter also informs that SVGL now holds a 46.11% stake in KPH which indirectly holds 25.2% interest in K-Electric.

However, the shareholding/control of KE, 66.4%, held through KESP, remains unchanged.

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