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Site update: January 16 2017, at 14:00 PKST
Stock update: January 13 2017.

Recent Financial News about HUBC (Hub Power Co)

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Monday, January 16 2017

Hubco raises stake in coal power project
LAHORE - As per a notice issued by Hub Power Company (HUBC) at the Pakistan Stock Exchange (PSX), the company has increased its holding in China Power Hub Power Generation Company (Pvt.) Ltd (CPHGC) from 26 percent previously to 47.5 percent through its wholly owned subsidiary Hub Power Holding Ltd. This development increases company’s Target Price from Rs120 to Rs133, as value contribution from the coal plant increases from Rs19/share to Rs33/share. Experts maintain 'Hold' rating on the stock, however highlight that this latest development will garner investor interest.
Related news categories: business company-news economic-indicators misc power-gen-dist
Related symbols: hubc (news stock)

Thursday, January 12 2017

Joint venture: HUBCO increases stake to 47.5% in imported coal-fired project
KARACHI: The Hub Power Company Limited (Hubco) has increased stake to 47.5% from 26% in the joint venture of setting up a 1,320 megawatts (MW) power project on imported coal at an estimated cost of over $2 billion at Hub, Balochistan, according to a bourse filing on Wednesday. The increased stake is estimated to help the firm earn higher revenues from the two projects of 660MW each (combined 1,320MW), which are to come online by December 2018 and August 2019, respectively. “The Hub Power Company Limited in its board meeting has decided to exercise the option to increase its shareholding in China Power Hub Power Generation Company (Private) Limited (GPHGC), formed to set-up 2x660MW imported coal based plant at Hub, through its wholly owned subsidiary, Hub Power Holdings Limited, from 26% to 47.5%,” said Hubco Company Secretary Shamsul Islam, in a notification to the Pakistan Stock Exchange.
Related news categories: business company-news economic-indicators misc power-gen-dist
Related symbols: hubc (news stock)

Hubco increases shareholding in CPHGC
he Hub Power Company Limited (Hubco) has increased its shareholding in China Power Hub Power Generation Company (Private) Limited (CPHGC) from 26.0 percent to 47.5 percent. The CPHGC is in process of setting up coal based power plant in Hub, Balochistan with 1320 MW generation capacity. To recall, initially the shareholding of Hubco in CPHGC was 49.0 percent, which was later decreased to 26.0 percent with an option to increase its holding before commercial operation date.
Related news categories: business company-news economic-indicators misc power-gen-dist
Related symbols: hubc (news stock)

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