K-Electric announces changes in shareholding structure

K-Electric Limited has announced significant changes in its shareholding and ownership structure. 

According to a disclosure in compliance with Section 96 and Section 131 of the Securities Act, 2015, and Clause 5.6.2 of the Rule Book of Pakistan Stock Exchange Limited, the company detailed updates following a letter dated July 5, 2024, from Sage Venture Group Limited (SVGL), an indirect shareholder of K-Electric.

The letter, addressed to the Securities and Exchange Commission of Pakistan (SECP) and marked to K-Electric, highlighted recent changes. 

According to the said letter, Infrastructure & Growth Capital LP made a distribution in kind to its Limited Partners of all the shares held by it in K-Power Holding Limited (KPH) (formerly IGCF SPV 26) and subsequent to the said distribution, the Fund now has no indirect interest in KE. 

Further, the letter states that the said distribution did not change the Ultimate Beneficial Ownership of IGCF SPV 21 Limited, which is an indirect shareholder of K-Electric.

Furthermore, the letter revealed that SVGL now holds a 46.11% stake in KPH, which indirectly represents a 25.2% interest in K-Electric. Despite these changes, the primary shareholding and control of K-Electric, amounting to 66.4%, remains unchanged and is held through KESP.

K-Electric emphasized that the company remains committed to maintaining transparency and compliance with regulatory requirements.