SSGC LPG Private Ltd to List at PSX With 33.3 Million Shares

Southern Gas Company Limited (PSX: SSGCL) has decided to list SSGC LPG Private Limited on the Pakistan Stock Exchange (PSX), the company informed the Pakistan Stock Exchange (PSX) on Wednesday. The SSGC Board of Directors resolved and approved the conversion of SSGC LPG (Private) Limited to a Public Limited Company and further okayed to initiate the process of issuance of 33,333,333 Ordinary Shores of the converted Company by an initial public offer (IPO) at any time in the future, according to the stock filing. ‘Further 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 SSGC LPG (Private) Limited, be and is hereby approved, subject to the compliances under the provisions of the Companies Act, 2017, relevant Rules, Regulations of the SECP and the Listing Regulations of the Exchange,” it added. SSGC has authorized the Company Secretary/Deputy Managing Director (DMD, F&A)/CFO to communicate formal disclosure to relevant regulatory bodies with effect to the foregoing resolutions.