Karachi: The Hub Power Company Limited has announced significant progress regarding its interest in acquiring a majority equity stake in Faisalabad Electric Supply Company Limited (FESCO), as per a disclosure dated August 28, 2026. The move is part of a consortium effort involving Hub Power Holdings Limited, a wholly owned subsidiary of The Hub Power Company Limited, and other corporate entities, including Lucky Cement Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.

According to the disclosure, the consortium has expressed interest in acquiring a 51% to 100% equity stake in FESCO, which is being privatized by the Government of Pakistan. The consortium has successfully pre-qualified with the Privatisation Commission, allowing it to proceed with financial, technical, and legal due diligence on FESCO. The equity stake will ultimately be offered through a competitive bidding process, aligning with applicable privatization laws.

The Hub Power Company Limited emphasized that no binding commitments have been made by either the company or the consortium concerning the acquisition of equity in FESCO. Any commitment will depend on the satisfactory completion of due diligence, obtaining necessary corporate and regulatory approvals, and confirming the transaction's commercial viability.

The designated market category for this development is the Pakistan Stock Exchange (PSX). According to information available from the Pakistan Stock Exchange (PSX), the consortium's next steps involve a comprehensive evaluation of the potential acquisition opportunity, ensuring all aspects are thoroughly analyzed before any decisions are finalized.