March 30, 2020 (MLN): The SECP has approved the request by Shanghai Electric Company for extension of 90 days in the making Public Announcement of Offer to acquire 66.4% shares of K-Electric Limited, which now may be made till June 26, 2020.
Arif Habib Limited, the Manager to the Offer for this acquisition, made the above announcement on Monday.
For the unversed, Shanghai Electric had made a Public Announcement of Intention to acquire 66.4% shares of K-Electric Limited on September 30, 2019.
As part of the acquisition process, the Acquirer had requested an extension of 90 days in making the Public Announcement of Offer which was to be made by March 28, 2020.
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