In a bid to expand its footprint in the energy sector, the Hub Power Company Limited has entered into a definitive agreement for the acquisition of shares of Sindh Engro Coal Mining Company Limited (SECMC).
According to a notice sent to the Pakistan Stock Exchange, this acquisition is equivalent to approximately 9.5% of the issued and paid-up ordinary share capital of SECMC, currently held by Habib Bank Limited (HBL).
However, the completion of the proposed transaction is subject to the necessary corporate and regulatory approvals and consents, and other conditions.
The company shall keep the PSX informed in respect of material developments in this respect, if any.
