Karachi December 6 2023: Sui Southern Gas Company is aiming to offer Initial Public Offering of its LPG business unit, according to company filing to the exchange.
The Board of Directors of Sui Southern Gas Company Limited (SSGCL) has approved the conversion of status of SSGC LPG (Private) Limited from Private Limited to Public Limited Company be and is hereby considered and approved for the purpose of initiating the process of issuance of 33,333,333 Ordinary Shores of the converted Company by Initial Public Offer (IPO) at any time in future, as deemed appropriate.
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 ls 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.
Further Resolved thot the Company Secretory / Deputy Managing Director (DMD, F&A) / CFO of the Company singly and / or jointly be and are hereby authorized to communicate formal disclosure to relevant regulatory bodies with effect to the IPO.
SSGC LPG (Pvt.) Limited (SLL) is 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. Our country wide facilities have state-of-the-art features providing our consumers with a strong customer value proposition.
Sui Southern Gas Company Limited’s main activity is transmission and distribution of natural gas in Sindh and Baluchistan. The Company is also engaged in certain activities related to the gas business including the manufacturing and sale of gas meters and construction contracts for laying of pipelines.
