CNERGY approves 57.37% stake acquisition in Puma Energy

News Image

MG News | January 13, 2022 at 01:07 PM GMT+05:00

0:00

January 13, 2022 (MLN): The Board of Directors of Cnergyico Pk Limited (PSX: CNERGY) (formerly Byco Petroleum Pakistan Limited) has approved the acquisition of a 57.37% stake in Puma Energy Pakistan Private Limited (Puma), the company filing on PSX showed on Thursday.

Puma Energy has more than 542 retail pumps across the Country with storage terminals in Punjab (Machike) and Sindh (Daulatpur) with a total storage capacity of 10,500 MT for petroleum products.

Cnergyico having one of the largest refining capacities in the country after this acquisition would have the second-largest retail fuel network, based on the current number shared by OMCs in Pakistan.

The management is optimistic that with this acquisition and expansion, the company's business diversity would further improve.

To recall, Last month, the board of directors of CNERGY, gave go-ahead to the management to negotiate with shareholders of Puma Energy Pakistan (Private) Limited for the acquisition of its majority stake therein.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 155,384.51
274.67M
0.61%
944.82
ALLSHR 95,133.57
856.28M
0.49%
465.41
KSE30 47,466.99
137.10M
0.74%
347.09
KMI30 227,645.22
99.71M
0.67%
1519.50
KMIALLSHR 63,888.06
353.11M
0.50%
319.01
BKTi 41,761.78
72.20M
0.33%
138.95
OGTi 31,619.14
7.57M
0.41%
130.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,220.00 117,240.00
114,940.00
-2045.00
-1.74%
BRENT CRUDE 67.14 67.52
66.78
0.15
0.22%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-1.20
-1.41%
ROTTERDAM COAL MONTHLY 93.00 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.90 63.24
62.52
0.21
0.34%
SUGAR #11 WORLD 15.90 15.98
15.80
0.11
0.70%

Chart of the Day


Latest News
September 15, 2025 at 05:53 PM GMT+05:00

Gold price in Pakistan remain unchanged


September 15, 2025 at 05:47 PM GMT+05:00

PIBTL swings to loss in FY25


September 15, 2025 at 05:30 PM GMT+05:00

KAPCO reports significant profit decline in FY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg