Mega Conglomerate acquires 15.7% shareholding in Hubco for $174m

KARACHI: Pakistan has got another investment of approximately $174 million in the power sector.

Mega Conglomerate has acquired a substantial shareholding in Hub Power Company (Hubco) from Dawood Hercules and Cyan Limited.

The conglomerate has purchased a total of 15.77%, or 182.58 million, shares in Hubco from Dawood Hercules and Cyan Limited at Rs106.50 per share, totalling Rs19.44 billion (or $174 million), according to notices sent to the Pakistan Stock Exchange on Friday.

Published in The Express Tribune, 17th March, 2018