Shanghai Electric submits fresh Public Announcement of Intention to buy shares of K-Electric amounting to 66.4 percent

MG News | June 14, 2017 at 04:50 PM GMT+05:00

0:00

Shanghai Electric Power has submitted fresh letter of interest in buying stakes in Kelectric as older was expiring on June 30, 2017.

Arif Habib Limited manager to the offer and Kelectric in a communiqué to Pakistan Stock Exchange that company has received fresh public announcement of intention for acquisition of up to 66.4 percent of the voting shares of Kelectric by Shanghai Electric Power subject to requisite regulatory and other approvals.

Previous Public Announcement Intention was due to expire on June 30, 2017, according to an official of the company it has been routine procedure and to finalize one the biggest corporate deal it is taking time as the buyer has to take number of approvals from the government and regulatory authorities

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,600.41 179.36M	-1.12% -2003.32
ALLSHR	106,900.02 378.12M	-1.04% -1121.17
KSE30	54,110.76 63.87M	-1.31% -717.57
KMI30	249,935.38 55.76M	-1.37% -3460.70
KMIALLSHR	68,628.97 175.94M	-1.01% -701.21
BKTi	51,438.28 25.23M	-0.92% -475.12
OGTi	34,875.17 15.07M	-0.51% -177.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	68,660.00	69,120.00 68,195.00	-175.00 -0.25%
BRENT CRUDE	67.61	68.13 67.57	-0.14 -0.21%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-1.50 -1.54%
ROTTERDAM COAL MONTHLY	104.60	104.60 104.60	1.30 1.26%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.74	63.30 62.71	-0.15 -0.24%
SUGAR #11 WORLD	13.55	13.57 13.42	0.07 0.52%