No changes in ownership, structure of board: K-Electric

KARACHI: The sole power distribution company in Karachi, K-Electric clarified on Wednesday that there has been no change in the ownership and the structure of its board.

K-Electric, on behalf of the company’s Board of Directors, wishes to communicate that there has been no change in the structure of the board, read a press release.

“The board members continue to represent the shareholders with a concentrated focus on the growth trajectory of the company in an evolving power sector steadily transitioning towards an open market era.”

“The majority shares (66.4%) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan also maintains a shareholding (24.36%) in the company,” it added.

Moreover, any changes in the shareholding pattern of the company will be disclosed in line with the stipulated regulations that govern public listed companies in Pakistan, said K-Electric spokesperson.