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Kapco had signed the SPA to acquire 201 million shares (approximately 17.37 percent) in Hub Power Company (Hubco). KARACHI: The share sale agreement (SPA) signed between Kot Addu Power Company Ltd (Kapco) and Dawood Hercules Corporation and “other shareholders” has diverged, he said in a stock market statement on Friday. Cyan Ltd and Dawood Hercules have confirmed, in their separate announcements, the termination of the SPA. Cyan Ltd said it had signed the SPA with Kapco for the sale of 10m shares in Hubco. Dawood Hercules explained that the SPA planned with Kapco the sale of its entire stake, i.e. 14.9% of the issued and paid-up capital to Hubco. The completion of the transaction was subject to compliance with the necessary regulatory and regulatory conditions. . .

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