Shanghai Electric submits fresh PAI to acquire 66.4% shares of K-Electric

MG News | June 29, 2020 at 05:48 PM GMT+05:00

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June 29, 2020 (MLN): Shanghai Electric Power Company has submitted a fresh Public Announcement of Intention (PAI) to acquire 18,335,542,678 ordinary shares of K-Electric Limited, which represent 66.4% of the total issued share capital of the target company.

As per the notice issued by the company in this regard, Arif Habib Limited will act as the Manager to the Offer.

Last week, Shanghai Electric had withdrawn its POI to acquire K-Electric as certain regulatory and other approvals for the Transaction remained outstanding.

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