K-Electric refutes board restructuring reports

MG News | July 06, 2023 at 12:25 AM GMT+05:00

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July 06, 2023 (MLN): Rebutting the news flows wherein the change in the structure of the board was mentioned, K-Electric, on behalf of the company's Board of Directors on Tuesday clarified that there has been no change in the structure of the board.

The board members continue to represent the shareholders with a concentrated focus on the growth trajectory of the company in an evolving power sector steadily transitioning towards an open market era.

The majority shares (66.4%) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF).

Pakistan's government also holds a shareholding (24.36%) in the company.

Moreover, any changes in the shareholding pattern of the company will be disclosed in line with the stipulated regulations that govern publicly listed companies in Pakistan.

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