As per details, the sale of KE to Shanghai Electric could not be completed. Shanghai Electric withdrew the offer at the end of the contract period. In this regard, the manager of Shanghai Electric has written a letter to K Electric.
"We have received today a copy of the withdrawal of public announcement of intention for acquisition (directly or indirectly) of up to 66.40% of the voting shares of K-Electric Limited by Shanghai Electric Power Company Limited," stated KE in its filing to the Pakistan Stock Exchange (PSX).
