Engro Holdings Limited has disclosed that its subsidiary, Engro Energy Limited, has sold a significant stake in Engro Powergen Qadirpur Limited, reducing its shareholding to around 50.36 percent.
According to a material disclosure submitted to the Pakistan Stock Exchange, Engro Energy sold approximately 60 million shares at a rate of Rs. 25 per share through a negotiated deal.
The transaction reduced Engro Energy’s stake in EPQL from 68.89 percent to 50.36 percent, while the company will continue to retain majority ownership and management control.
The disclosure further noted that the total value of the transaction stands at around Rs. 1.5 billion, based on the agreed share price and number of shares sold.
Engro Holdings stated that it had received formal communication from its subsidiary regarding the transaction and shared the information in compliance with regulatory requirements under the Securities Act, 2015.
Despite the stake sale, Engro will continue to oversee operations of Engro Powergen Qadirpur, maintaining strategic control while partially divesting its shareholding.