Shanghai Electric Power bids on Pakistani utility

Karachi electrical distributor draws interest from international investors

Shanghai Electric Power Co Ltd, a Shanghai-listed power supplier, said it intends to acquire a majority stake in K-Electric Ltd, a Pakistan power utility, from a Dubai-based investor, according to its filing to the Pakistan Stock Exchange on Tuesday.

K-Electric Director Finance and Company Secretary Muhammad Rizwan Dalia said in a notification to the Pakistan Stock Exchange that the company has received a copy of the public announcement of Shanghai Electric Power's intention to acquire up to 66.4 percent voting shares.