Shanghai Electric withdraws PAI to acquire 66.4% shares of K-electric

News Image

MG News | June 27, 2023 at 01:10 PM GMT+05:00

0:00

June 27, 2023 (MLN): Shanghai Electric Power Company Limited has withdrawn the Public Announcement of Intention (PAI) for the acquisition of up to 66.4% of the voting shares of K-Electric Limited.

A notification released by the manager to the offer, i.e. Arif Habib Limited, stated that the time period for making the public announcement of the offer (as extended by the Securities & Exchange Commission of Pakistan)  had lapsed on June 27, 2021, on the basis that certain regulatory and other approvals for the transaction remained outstanding.

However, the notice informed that Shanghai Electric Company would make a fresh PAI via Pakistan Stock Exchange (PSX) and shall publish the same in the Newspaper within two working days of such notification in accordance with the prescribed formalities.

The notice further stated that this process of withdrawal and re-issuance of the PAI is being undertaken to ensure compliance with the law.

Accordingly, the transaction will be consummated immediately upon receipt of the remaining regulatory and other approvals.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 139,419.62
245.77M
0.87%
1202.03
ALLSHR 85,866.79
627.37M
0.75%
642.90
KSE30 42,653.43
92.91M
1.18%
498.48
KMI30 196,070.05
89.59M
1.55%
2988.05
KMIALLSHR 56,532.84
277.80M
1.03%
578.75
BKTi 38,192.95
21.12M
0.18%
69.68
OGTi 27,944.70
19.45M
2.24%
611.53
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,530.00 119,900.00
116,275.00
2710.00
2.32%
BRENT CRUDE 68.26 69.12
68.12
-0.95
-1.37%
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 64.98 65.86
64.82
-0.97
-1.47%
SUGAR #11 WORLD 16.23 16.51
16.10
-0.14
-0.86%

Chart of the Day


Latest News
July 22, 2025 at 05:37 PM GMT+05:00

Social reforms key to national prosperity, security


July 22, 2025 at 04:46 PM GMT+05:00

CCP approves CMA CGM’s acquisition of Borusan


July 22, 2025 at 04:39 PM GMT+05:00

Govt launches AI product development training for PhDs


July 22, 2025 at 04:07 PM GMT+05:00

PSX Closing Bell: Green Light Go



Top 5 things to watch in this week

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