SSGC shareholders approve 33.33m share IPO for SSGC LPG Limited
MG News | December 29, 2023 at 05:51 PM GMT+05:00
December 29, 2023 (MLN): The shareholders of Sui Southern Gas Company Limited (PSX: SSGC) have resolved to initiate the issuance of 33.33 million ordinary shares through an Initial Public Offering (IPO) of SSGC LPG Limited, as revealed in the company’s filing on the local bourse today.
Furthermore, the undertaking of all requisite steps for the listing of SSGC LPG Limited (to be converted) at Pakistan Stock Exchange Limited (PSX) anytime in the future is hereby approved.
The approval is subject to compliance under the provisions of the Companies Act 2017, rules and Regulations thereunder, and the Listing Regulations of the PSX.
To note, SSGC LPG is a 100% owned subsidiary of SSGC, engaged in liquefied petroleum gas (LPG) marketing and distribution across the country.
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