Mecom Gas eyes $20m PSX IPO

May 22, 2026 (MLN): Mecom Gas Pvt Ltd. is exploring plans to raise around $20 million through an initial public offering (IPO) on the Pakistan Stock Exchange to finance the development of a new liquefied petroleum gas (LPG) storage terminal in the country, according to Bloomberg.

Chief Executive Officer Kamran Afzal said the company is currently in discussions with Arif Habib Limited regarding advisory services for the proposed listing.

The planned investment would be utilized to establish nearly 3,000 tons of LPG storage capacity.

Pakistan’s energy supply chain has come under mounting pressure amid escalating geopolitical tensions involving Iran, as the country remains heavily dependent on imported oil and gas from the Middle East.

Disruptions in regional supply routes and rising fuel prices have intensified concerns over energy security and availability.

According to the company’s management, LPG prices in Pakistan have surged sharply over the past six months, with prices nearly doubling during the period.

The local LPG market is currently supported by both domestic production and imports, although reliance on imported supplies has increased in recent years.

The proposed expansion in storage infrastructure is aimed at reducing market volatility and ensuring improved supply management during periods of disruption.

Kamran Afzal noted that Pakistan’s existing LPG storage capacity needs to increase substantially to maintain adequate reserves, adding that the company has already secured regulatory approvals for the project.

The development comes at a time when Pakistan’s capital market is witnessing renewed activity in equity offerings, supported by strong retail participation and bullish momentum in the stock market.

Recently, Service Long March Tyres Limited completed one of the country’s largest private-sector listings, reflecting growing investor appetite for new offerings.

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