Kapco BoD keen to acquire 172.582 millions shares of Hubco

The board of directors of Kot Addu Power Company (Kapco) is interested to acquire 172.582 million ordinary shares (constituting 14.91 percent) of the Hub Power Company (Hubco).
"Subject to requisite corporate and regulatory approvals, a strategic proposal is to be considered/evaluated by the Board of Directors of Kot Addu Power Company Limited, and if considered appropriate a bid will be submitted to acquire 172,582,000 ordinary shares of Hub Power Company, which are being offered by Dawood Hercules Corporation Limited (DHCL) and an additional 28,502,105 ordinary shares (2.46 percent) of Hubco being offered by some other shareholders", a material information sent to Pakistan Stock Exchange on Thursday said.