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ISLAMABAD: Privatisation Commission on Monday successfully executed the bid for selling 96.6 percent shares in the Heavy Electrical Complex to IMS Engineering at Rs99.999/share that would fetch. ....
| By our correspondent ISLAMABAD: The government is expected to complete the privatisation of Heavy Electrical Complex (HEC) by the mid of the current year as it has already shortlisted investors for issuance of request for statement of qualification, officials said on Thursday. The officials told a weekly meeting on privatisation transactions that 12 expressions of interest had been shortlisted for HEC. The meeting was chaired by Minister for Privatisation Mohammedmian Soomro. In November last, Cabinet Committee on Privatisation approved the transaction structure for the divestment of 96.6 per cent shares of HEC. This was the seventh transaction approved since the start of the privatisation plans adopted in October 2018. ....
Heavy Electrical Complex expected to be privatised by June Business February 19, 2021 ISLAMABAD: The government is expected to complete the privatisation of Heavy Electrical Complex (HEC) by the mid of the current year as it has already shortlisted investors for issuance of request for statement of qualification, officials said on Thursday. The officials told a weekly meeting on privatisation transactions that 12 expressions of interest had been shortlisted for HEC. The meeting was chaired by Minister for Privatisation Mohammedmian Soomro. In November last, Cabinet Committee on Privatisation approved the transaction structure for the divestment of 96.6 per cent shares of HEC. This was the seventh transaction approved since the start of the privatisation plans adopted in October 2018. ....
Waves shows interest in buying Heavy Electrical Complex Business February 2, 2021 KARACHI: Waves Singer Pakistan has expressed intention to acquire 96.6 percent shares of Heavy Electrical Complex from the government, it said on Monday. “The board of directors of Waves Singer Pakistan Limited (WSPL) has approved submission of an expression of interest (EOI) for the acquisition of 96.6 percent shares in Heavy Electrical Complex (Private) Limited (HEC) from the Government of Pakistan by way of privatization process,” a bourse filing said. “The EoI will be followed by a detailed due diligence process (if the company is shortlisted) and completion of other necessary formalities. The results of the due diligence shall be placed before the Board for review and discussion and to resolve/approve further course of action in respect of the transaction.” ....