Karachi: In a significant move within Pakistan's energy sector, Liberty Power Holding (Private) Limited, along with Soorty Enterprises (Private) Limited and Procon Engineering (Private) Limited, announced their intention to acquire a substantial 68.89% of the ordinary shares of Engro Powergen Qadirpur Limited. The disclosure was made public on December 3, 2024, and has since been published in the Business Recorder and Nawa-i-Waqt as per regulatory requirements.

The Public Announcement of Intention, which was published on December 5, 2024, complies with Regulation 6(5) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulation, 2017. This regulation mandates public disclosure in media outlets to ensure transparency and compliance in substantial acquisition activities.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition move by these entities signals a strategic effort to consolidate their presence in the energy sector. The acquisition of Engro Powergen Qadirpur Limited, a significant player in the energy industry, could have substantial implications for market dynamics and competition.

The announcement marks a notable event in Pakistan's corporate landscape, as the acquisition process moves forward under the regulatory framework governing substantial acquisitions and takeovers. The development is being closely monitored by industry stakeholders and investors, given its potential impact on the energy market and the broader economy.