The Hub Power Company Limited has disclosed that its wholly owned subsidiary, Hub Power Holdings Limited, has formed a consortium with other corporate entities to pursue the acquisition of a significant equity stake in Islamabad Electric Supply Company Limited (IESCO).
- The consortium includes Lucky Cement Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.
- They have submitted an Expression of Interest and Statement of Qualification for a 51% to 100% equity stake in IESCO, which is being privatized by the Government of Pakistan.
- The consortium has been pre-qualified by the Privatisation Commission to conduct due diligence on IESCO.
- No binding commitments have been made yet; the consortium will proceed only after completing due diligence and obtaining necessary approvals.
- This move indicates a strategic expansion opportunity for The Hub Power Company Limited, potentially enhancing its market position.