Shanghai Electric Power extends PAO for KE by 90 days

News Image

MG News | March 29, 2023 at 01:09 PM GMT+05:00

0:00

March 29, 2023 (MLN): Shanghai Electric Power Company Limited is extending the deadline for the Public Announcement of Offer (PAO) for the acquisition of 18.33 billion ordinary shares of K-Electric Limited (KEL), constituting 66.40% of the total issued and paid-up capital of KEL till June 27, 2023, Arif Habib Limited, Manager to the acquisition informed the bourse today. 

The parties involved in the transaction have been taking all reasonable steps to obtain the necessary regulatory approvals, both in the People's Republic of China and Pakistan.

However, some of these approvals are still pending and are beyond the control of the Acquirer. The deadline for making the PAO was originally set for March 29, 2023, but has now been extended by 90 days.

AHL has assured that it will continue to apply all efforts in expediting the necessary approvals and processes.

However, some of the conditions require the relevant regulatory authorities to seek internal approvals from various line ministries and departments, which may cause further delays.

Copyright Mettis Link News 

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,000.00 119,740.00
116,460.00
-295.00
-0.25%
BRENT CRUDE 73.52 73.63
71.75
1.01
1.39%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.36 70.51
68.45
1.15
1.66%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg