December 06, 2023 (MLN): The Board of Directors (BoD) of Sui Southern Gas Company Limited (PSX: SSGCL) has approved the conversion of the status of SSGC LPG (Private) Limited (SLL) to a Public Limited company, and the initiation of the process for the issuance of 33.3 million shares through an Initial Public Offering (IPO).
The company informed through a notice sent to the local bourse today.
Accordingly, the company will initiate the process of issuance of 33,333,333 ordinary shares of the converted company by IPO at any time in the future, as deemed appropriate, it said.
Additionally, the BoD resolved that authorization to designate management/office(s) of the company to undertake all requisite steps for future listing at the Pakistan Stock Exchange Limited (PSX) by the Board of SLL.
SLL is a 100% owned subsidiary of SSGCL, engaged in LPG marketing and distribution across the country.
The company owns and operates a dedicated open-access LPG terminal with storage facilities at Port Qasim to handle LPG imports.
SLL is a fully integrated LPG Company capable of providing end-to-end solutions right from the terminal at Port Qasim to the supply of consumer retail packs of LPG.
