Karachi Electric Supply Company’s Board of Director has approved to offer right shares to the shareholders in its meeting held on July 29, 2011. The entitlement of the shareholders, post book closure, would be notified after the approval of Securities and Exchange Commission of Pakistan.KESC announced to offer 7.25 per cent right issue as per approval of the Board, that will be 29 ordinary right shares for every 400 ordinary shares held by the shareholders at par, which is Rs. 3.50 per share.
KESC has informed the shareholders that the approval of the Board to the said right issue is subject to approval of SECP and book closure, in order to determine the entitlement of the shareholders to the said issue.
