Shanghai Electric withdraws bid to acquire K-Electric

News Image

MG News | April 22, 2024 at 01:52 PM GMT+05:00

0:00

April 22, 2024 (MLN): Shanghai Electric Power Company Limited has withdrawn its offer to acquire up to 18.336 billion ordinary shares of K-Electric Limited (PSX: KEL) representing 66.4% of the total issued share capital.

Arif Habib Limited, the manager of the offer, informed the Pakistan Stock Exchange (PSX) through a notice issued today.

The period for making the public announcement of the offer, as extended by the Acquirer, expired on April 20, 2024, as certain regulatory and other approvals for the Transaction remain outstanding. As a result, the acquirer has withdrawn its offer.

Arif Habib further informed that this process of withdrawal is being undertaken to ensure compliance with the law.

To recall, the Public Announcement of Intention (PAl) to acquire majority shareholding in KEL was published on July 25, 2023

Copyright Mettis Link News

 

 

Related News

Name Price/Vol %Chg/NChg
KSE100 157,463.85
97.82M
0.82%
1286.03
ALLSHR 96,357.65
271.39M
0.76%
727.26
KSE30 48,070.33
90.22M
0.82%
391.86
KMI30 231,977.84
37.69M
1.00%
2295.62
KMIALLSHR 64,881.53
102.00M
0.80%
514.76
BKTi 42,368.78
61.82M
1.06%
445.97
OGTi 31,737.55
5.25M
0.01%
1.76
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,780.00 118,295.00
116,115.00
1955.00
1.69%
BRENT CRUDE 67.78 68.01
67.50
-0.17
-0.25%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.50 93.50
93.50
0.15
0.16%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.51 63.82
63.24
-0.54
-0.84%
SUGAR #11 WORLD 16.23 16.59
16.23
-0.33
-1.99%

Chart of the Day


Latest News
September 18, 2025 at 09:27 AM GMT+05:00

NBP issues foreign exchange rates


September 18, 2025 at 09:16 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market



Top 5 things to watch in this week

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