AKD Securities to Lead Consortium for GEPCO Privatisation.
✧ GENERATE BRIEFING +
Following private-sector momentum in national divestment initiatives, AKD Securities Limited has notified the Pakistan Stock Exchange (PSX) of its participation in the privatization process for the Gujranwala Electric Power Company (GEPCO). The company's Board of Directors has authorized its role as the Lead Consortium Member for a four-member group comprising Fast Cables Limited, AJCL (Private) Limited, and Mughal Iron & Steel Industries Limited. The transaction forms part of the government's broader power distribution company (DISCO) divestment plan, aiming to transfer a 51% to 100% equity stake alongside management control to private buyers.
AKD Securities Limited has issued a formal material disclosure to the Pakistan Stock Exchange (PSX) regarding its participation in the government’s privatization program for the Gujranwala Electric Power Company (GEPCO).
The brokerage and investment banking firm has obtained the Request for Statement of Qualification (RSOQ) issued by the Privatisation Commission and secured its Board of Directors’ approval to lead a domestic consortium.
Consortium Composition and Structure
Under the agreed terms, the participating members have irrevocably designated AKD Securities Limited as the Lead Consortium Member. The designation empowers AKD Securities, through its designated representative, to manage operational workflows, execute transaction filings, and act on behalf of the consortium throughout the bidding process, including the authority to sub-delegate tasks.
The consortium consists of four entities:
- AKD Securities Limited (Lead Consortium Member)
- Fast Cables Limited
- AJCL (Private) Limited
- Mughal Iron & Steel Industries Limited
Status of Transaction and Regulatory Compliance
In accordance with Sections 96 and 131 of the Securities Act, 2015, and applicable PSX regulations, AKD Securities clarified that no binding legal or financial commitments have been executed at this stage.
Progress remains contingent upon pre-qualification clearance by the Privatisation Commission, regulatory approvals, and standard due diligence evaluations. The company has committed to providing periodic updates to the stock exchange as the process advances.
Power Sector Divestment Context
GEPCO forms part of the initial tranche of state-owned power distribution companies (DISCOs)—alongside FESCO and IESCO—earmarked for privatization. The federal government is inviting private-sector investors to acquire a controlling equity stake ranging from 51% to 100%, coupled with complete management rights. The submission highlights ongoing interest from domestic industrial and financial firms in acquiring distribution assets within Pakistan’s power sector.
Business
Business
Business