KARACHI: K-Electric Limited has received withdrawal of public announcement of intention for acquisition (directly or indirectly) of up to 66.40 percent of the ordinary share capital of K-Electric Limited by Shanghai Electric Power Company Limited (acquirer).

M/s Arif Habib Limited, the manager to the offer, has intimated that the acquirer continues to be fully committed to consummating the transaction pending receipt of regulatory and other approvals, material information sent to Pakistan Stock Exchange on Tuesday said.

Shanghai Electric submits fresh PAI to acquire K-Electric shares

The acquirer will notify the fresh public announcement of intention via Pakistan Stock Exchange Limited on December 29, 2021, it added.

The manager to the offer has further intimated that this process of withdrawal and re-issuance of the public announcement of intention is being undertaken to ensure compliance with the law.

Copyright Business Recorder, 2021