Shanghai Group appeals 10th time to buy 66pc shares of K-Electric

By: News Desk      Published: 08:03 PM, 29 Dec, 2021
Shanghai Group appeals 10th time to buy 66pc shares of K-Electric

The energy sector’s well-known Shanghai Electric Group Wednesday offered 10th time to purchase 66.40 per cent shares of K-Electric.

According to the 24News HD TV channel, Shanghai Electric has applied for the approval of regulatory authority for the tenth time to buy the shares.

Arif Habib, Shanghai Electric's Deal Manager, has written a letter to the K-Electric that has been forwarded to the stock exchange.

The channel report said that the deal with Shanghai Electric Group will be possible after regulatory approval from NEPRA and other agencies.

The sources said that Shanghai Electric wanted to buy 66.40 per cent shares of K-Electric with management rights.

Shanghai Electric Group

Shanghai Electric Group is a world-class integrated high-end equipment manufacturer, focusing on smart energy, intelligent manufacturing and smart infrastructure, providing industrial-grade green and intelligent system solutions for customers.

It has a global presence in new energy, integrated energy, environmental protection, medical devices and industrial automation sectors.

With strong R&D and manufacturing capabilities and broad experiences in projects and resources, Shanghai Electric Group upholds the values of open and mutually-beneficial collaboration and advocates smart energy and intelligent manufacturing, the intelligentization of industry and industrialization of service, as well as the development of the Energy Internet and Industrial Internet.

By facilitating industrial transformation through technological advancement, it promotes sustainable human and social progress.

Reporter: Habib Khan