Karachi: The Hub Power Company Limited announced a significant partnership through its wholly owned subsidiary, Hub Power Holdings Limited. According to a disclosure made in compliance with Sections 96 and 131 of the Securities Act, 2015, and Rule 5.6.1. of the Pakistan Stock Exchange Limited, Hub Power Holdings Limited has entered into a shareholders agreement with Mega Conglomerate (Private) Limited. This agreement will result in Mega Conglomerate subscribing to and acquiring a fifty percent stake in Mega Motor Company (Private) Limited.

The strategic partnership aims to consolidate the expertise of both Hub Power Holdings Limited and Mega Conglomerate to enhance their business collaboration with BYD Auto Industry Company Limited. The finalization of this agreement is contingent upon obtaining the necessary regulatory approvals and consents.

According to information available from the Pakistan Stock Exchange (PSX), the announcement requests the dissemination of this material information to the Members of the Exchange, highlighting its importance to stakeholders and potential implications for the involved entities.