ISLAMABAD: K-Electric said that it does not have any information about the sale of the controlling stake of the company to any buyer.
K-Electric, the only power supply company in Karachi, has issued this clarification in response to a news published in a newspaper last week which claimed that the majority of shares of K-Electric are being sold to another company.
The newspaper also claimed that the deal was being materialized out of Pakistan.
In a letter written to the General Manager of Pakistan Stock Exchange, K-Electric said that in accordance 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, we hereby convey the following information:
“K-Electric Limited has been made aware of the news item with headline ‘KE’s controlling stake sale nears completion abroad, unbeknown to Pakistan’.
This is to inform you (PSX GM) that K-Electric has no information of any proposed change in controlling stake of the company as reported in the story.
K-Electric is in the process of gathering the relevant facts and will make appropriate disclosure to the Pakistan Stock Exchange in this regard as soon as it has sufficient facts to clarify the matter reported in the news item.”
K-Electric has urged the GM PSX to disseminate its letter to members of the exchange.
