Extension allowed to Shanghai Electric for making POA to get 66.4% shares of K-Electric

The Securities and Exchange Commission of Pakistan has approved the request by Shanghai Electric Company (Acquirer) for extension of 90 days in the making Public Announcement of Offer (POA) to acquire 66.4 percent shares of K-Electric Limited, which now may be made till June 26, 2020.

Arif Habib Limited, the Manager to the offer for this acquisition, made the announcement in a statement issued to Pakistan Stock Exchange (PSX) on Monday.

As part of the acquisition process, the Acquirer had requested an extension of 90 days in making the Public Announcement of Offer which was to be made by March 28, 2020.