Kot Addu power station was constructed by the Water and Power Development Authority (WAPDA) in five phases between 1985 and 1996.[7][8] It consists of 15 generating units with a total installed capacity of 1,600 MW.[7][9]
In April 1996, as part of Pakistan's privatization efforts, Kot Addu Power Company (KAPCO) was incorporated as a public limited company.[7] The management of the company was transferred to the UK-based National Power (now International Power), which initially acquired a 26 percent stake in KAPCO at a valuation of $1583 million, later increasing its ownership to 36 percent.[10][7][11]
In 2005, the Privatisation Commission, on behalf of WAPDA, conducted a public offering in which 18 percent of KAPCO's shares were sold to the general public at a strike price of PKR 30.[12][13][14] Subsequently, on 18 April 2005, KAPCO was listed on the Karachi, Lahore, and Islamabad Stock Exchanges.[7][8]
In 2014, National Power sold its entire shareholding to the local investors.[15]
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