Karachi October 4 2021: Ghani Global Holding has decided to list its chemical subsidiary at Pakistan Stock Exchange, as per information shared by the company.
The Board ot Directors of Ghani Chemical Industries Limited (GCIL),one of the subsidiary Companies and fhe largest manufacturer of medical and industrial gases in Pakistan, held on October 2, 2021 has decided to make an Initial Public Offering (IPOj of Ghani Chemical Industries Limited, at the Strike Price to be determined through Book Building Process in accordance with the Public Offering Regulations, 2017 and applicable regulations of the Rule Book of the PSX and ultimate listing of the subsidiary at PSX.
The funds raised from the IPO will be used for the setting-up of two state-of-the-art chemical plants for manufacturing of Citric Acid (import substitute) and Sulphuric Acid in Allama lqbal Industrial City, Faisalabad. with an approximate cost of PKR 8.5.
After the ensuing financial structuring and the IPO. GGL shall come to hold more than 50% equity in the listed GCIL with an expected valuation cap of GGL' holding in GCIL coming approximately to -PKR 13 Billion, based on GCIL's share price for the book-building process.