The Hub Power Company Limited (Hubco) has decided to slash its shareholding in China Power Hub Generation Company (Pvt) Limited to 26 percent, said a stock filing on Monday. "Hubco will be reducing its shareholding through its wholly owned subsidiary, Hub Power Holdings Limited," said Shamsul Islam, Hubco Secretary. China Power is a joint venture company formed to set up a 2x660 megawatts coal based power project. Hubco, however, has kept the option open to increase its shareholding back to 49 percent at any time before Commercial Operations Date (CoD) of the project.