Kot Addu Power Plant (the “Power Plant”) was built by the Pakistan Water and Power Development Authority (“WAPDA”) in five phases between 1985 and 1996 in District Muzaffargarh, Punjab, 90 K.M. north west of Multan on the left bank of the River Indus at a distance of 16 K.M. from Taunsa Barrage.
In April 1996, Kot Addu Power Company Limited (the “Company”) was incorporated as a public limited company under the Companies Ordinance, 1984 with the objective of acquiring the Power Plant from WAPDA. The principal activities of the Company include the ownership, operation and maintenance of the Power Plant.
On June 27, 1996, following international competitive bidding by the Privatisation Commission Government of Pakistan (the “Privatisation Commission”), the Company was privatised. At the time of privatisation and following privatisation, WAPDA divested 36% of its shareholding in the Company to the strategic investor. In August 2013, the strategic investor sold its entire shareholding in the Company to local corporate entities and individuals.
In February 2005, the Privatisation Commission (on behalf of WAPDA) sold another 18% of WAPDA shareholding in the Company to the General Public. On April 18, 2005 the Company was formally listed on the Pakistan Stock Exchange (formerly the Karachi Stock Exchange, the Lahore Stock Exchange and the Islamabad Stock Exchange).
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