K-Electric Announces Changes in Indirect Shareholding Structure

Karachi: K-Electric Limited has disclosed significant changes in its indirect shareholding structure, as communicated in a recent disclosure form filed with the Pakistan Stock Exchange (PSX) on July 8, 2024.

According to information available from the Pakistan Stock Exchange (PSX), a letter from the beneficial owner of Sage Venture Group Limited (SVGL), an indirect shareholder of K-Electric, revealed that Infrastructure & Growth Capital LP (the “Fund”) distributed all its shares in K-Power Holding Limited (formerly IGCF SPV 26) to its Limited Partners. This distribution resulted in the Fund relinquishing any indirect interest in K-Electric. However, this shift did not affect the ultimate beneficial ownership of IGCF SPV 21 Limited, which continues to be an indirect shareholder of K-Electric.

Further details from the letter indicate that following the distribution, SVGL now holds a 46.11% stake in K-Power Holding Limited, which in turn holds a 25.2% interest in K-Electric. Despite these changes in the upper echelons of its shareholding structure, the direct control of K-Electric remains stable with a 66.4% stake held through KESP.

This disclosure follows regulatory guidelines outlined in Section 96 and Section 131 of the Securities Act, 2015, and is part of the company’s commitment to maintaining transparency with its investors and complying with market regulations.