Sunday, May 22, 2022

Shanghai Electric gets 90 days extension for making PAO to acquire 66.4% shares of K-Electric


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

The SECP has granted the extension of ninety days to make a Public Announcement of Offer by Arif Habib Limited on the behalf of the acquirer, Shanghai Electric Power Company Limited, which now may be made till March 27, 2021.

Arif Habib Limited has been appointed as the Manager to the Offer by the acquirer.

For the unversed, Shanghai Electric had made a Public Announcement of Intention to acquire 66.4% of the total issued and paid-up capital shares of K-Electric Limited on June 30, 2020.

As part of the acquisition process, the Acquirer had requested an extension of 90 days in making the Public Announcement of Offer pursuant to the provision to Regulation of Listed Companies Regulations, 2017.

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