Shanghai Electric bids for stake in KE

E-Paper | April 30, 2026

SHANGHAI: China’s state-backed Shanghai Electric Power said it is bidding to acquire a stake in K-Electric Ltd, which has a total market value of $2.3 billion.

“Our company has embarked on preliminary work on the acquisition of a stake in K-Electric. We have not entered into any exclusive negotiations yet and the size of the stake has also not been firmed up,” Shanghai Electric said in a statement on the Shanghai stock exchange on Monday.

It said it is not the only company participating in the bidding process.

Dubai-based private equity firm Abraaj Group has flagged its intention to sell its stake of about 66 per cent in K-Electric, which supplies power to over 2.2 million customers in and around Karachi.

As of Monday, Abraaj’s stake was valued at around $1.5bn. The government owns about 24pc in K-Electric.

Published in Dawn, August 23rd, 2016

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AHA

Aug 23, 2016 09:19am

Is there any process like International competitive bidding or done deal just under the blanket?

Recommend 0

Bay Adab

Aug 23, 2016 10:51am

@AHA It is sale by a private owner, they are free to select their options.

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naji

Aug 23, 2016 12:51pm

Oh my God!! then we will pray for Pakistan and KE. Please suggest any European company if ready to purchase some share of KE. Chines Quality is nothing to run an organization like KE. But again Pakistan Govt. all level, central/provincial, are sleeping.

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Waseem

Aug 23, 2016 03:24pm

@naji I have seen most of the Karachites praising KE for streamlining supplies, and arresting line losses and electricity theft. There is no worse way to destroy any organization than handing it over to the Gov of Pakistan, or invite Gov to interfere in their affairs. If KE as a company gets any better, value of Govt shares also increases, which at less than 1/4th of the ownership is almost the same value now, as the entire company valuation at the time of privitization

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