Ghani Chemicals to merge with G3 Technologies, withdraws listing application

MG News | April 14, 2022 at 02:20 PM GMT+05:00

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April 14, 2022 (MLN): The Board of Directors of Ghani Chemical Industries Limited (PSX: GCIL) in its meeting held on Thursday decided to merge G3 Technologies Limited (PSX: GTECH), an associated company with and into GCIL, the company filing on PSX showed today.

As a result, the company withdraws the already filed listing application of GCIL with the Pakistan Stock Exchange Limited (PSX) and will ultimately apply for listing after the merger.

The board of directors of GCIL and GTECH has also decided to appoint a merger consultant and to file a petition at the Honorable Lahore High Court, Lahore for sanctioning the Scheme of Merger after completion of all related formalities.

To note, GCIL is one of the largest manufacturers of medical and industrial gases in Pakistan.

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