Karachi November 10 2022: Hascol Petroleum Limited (HASCOL) informs that the Board of Directors has received feedback from its mandated financial advisor on the various equity raising options being pursued for the proposed restructuring of the Company.
These options including the receipt by the financial advisor of a number of non-binding expressions of interest for the acquisition of a strategic equity stake in the Company and the option of a retail equity investment through a rights issue.
The Board of Directors of the Company has directed the financial advisor to continue to engage further with the relevant parties.
About the Company
Hascol Petroleum Limited was incorporated in Pakistan as a private limited company on March 28, 2001. On September 12, 2007 the Company was converted into a public unlisted company. The Company is engaged in the business of procurement, storage and marketing of petroleum, chemicals, LPG and related products. The Company obtained oil marketing license from Ministry of Petroleum and Natural Resources in the year 2005 and acquired assets of LPG licensed company in the year 2018.
