KARACHI: In a momentous event, Mughal Energy Limited celebrated its listing on the GEM Board of the Pakistan Stock Exchange (PSX) with a grand gong ceremony. This historic occasion drew prominent investors and business leaders, all gathered to commemorate this significant milestone in the company’s history.
The ceremony featured addresses by distinguished guests, including Farrukh H. Khan, Managing Director of PSX, and Aftab Chaudhry, CEO of LSE Capital. Both speakers underscored the importance of Mughal Energy’s achievement and shared their optimistic outlooks for the company’s future.
Jamshaid Iqbal, Director of Mughal Group, expressed his enthusiasm for the company’s new chapter on the GEM Board, highlighting the critical role this milestone plays in Mughal Energy’s growth trajectory.
The Chairman of the Securities and Exchange Commission of Pakistan (SECP) also spoke at the event, emphasizing the GEM Board’s potential to serve as an alternative listing venue.
He noted that private equity investors typically favor early-stage investments, and GEM listings, with their fully automated trading systems, enhance liquidity and investor participation.
With 1,700 investors currently active on the GEM Board, the Chairman highlighted SECP’s initiatives to energize the GEM counter and invited stakeholders to participate in the consultation process to further promote the listings of SME companies.
Aftab Chaudhry, CEO of LSE Capital, revealed that while LSE Capital has predominantly focused on restructuring assignments, Mughal Energy’s transaction marks its first solo assignment. He projected that during the upcoming fiscal years 2024-25, LSE Capital would introduce 4-5 new listings to the market.
Jamshaid Iqbal, Director of Mughal Group, shared his sentiments on this landmark occasion. “Today marks a significant milestone in the business journey of the Mughal Group.
Mughal Energy Limited’s listing on the GEM Board is a matter of pride, achieved through the professional support of PSX,” he said. Iqbal extended heartfelt thanks to Farrukh H. Khan and his team, Aftab Chaudhry and the LSE Financial Services team, and all investors who contributed to the successful IPO.
He reaffirmed the company’s commitment to creating long-term value for shareholders, achieving sustainable profits, and maintaining high standards of corporate governance, transparency, and social compliance.
Iqbal expressed hope that Mughal Energy’s listing would inspire more companies to seek capital investment through the GEM Board, thereby contributing to Pakistan’s economic development. “We are proud to be a part of the Pakistan Stock Exchange community and look forward to further strengthening these relationships,” he concluded.
Mughal Energy Limited:
Mughal Energy Limited is a leading player in the energy sector, committed to innovation, sustainability, and excellence. The company’s listing on the GEM Board marks a new chapter in its growth story, as it aims to leverage capital markets for continued success.
Pakistan Stock Exchange (PSX):
The Pakistan Stock Exchange is the premier stock exchange in Pakistan, offering a robust platform for trading securities and raising capital. The GEM Board, a segment of PSX, is designed to support the growth of small and medium-sized enterprises by providing access to capital and enhanced market visibility.
LSE Capital:
LSE Capital is a premier financial services firm specializing in investment banking, asset management, and advisory services. Renowned for its strategic insights and restructuring expertise, LSE Capital plays a pivotal role in enabling companies to achieve their financial and operational goals.
With a strong track record of successful listings and acquisitions, LSE Capital continues to be a trusted partner for businesses aiming to scale new heights.
