Karachi, 13th June– 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. The event was graced by prominent investors and business leaders, who gathered to mark this significant milestone in the company’s history.
The ceremony featured addresses by distinguished guests, including MD PSX Farrukh H. Khan and CEO LSE Capital, Aftab Chaudhry. Jamshaid Iqbal, Director of Mughal Group, expressed his optimism about the company’s future on the GEM Board, emphasizing the importance of this achievement.
The Chairman of the Securities and Exchange Commission of Pakistan (SECP) highlighted the high potential of the GEM Board to provide an alternative listing venue. He noted that the private equity investors favor early-stage investments, and GEM listings offer fully automated trading, enhancing liquidity and investor participation. With 1,700 investors currently active on the GEM Board, the Chairman underscored the SECP’s efforts to energize GEM counter and invited stakeholders to participate in the consultation process for making GEM as regular contributor for promoting the listings of the SME companies.
Aftab Chaudhry, CEO of LSE Capital, stated that although LSE Capital had mostly been working on the restructuring assignments but Mughal Energy’s transaction is the first solo assignment undertaken by LSE Capital. He projected that during the upcoming fiscal years 2024-25, LSE Capital would bring about 4-5 new listings to the market.
Jamshaid Iqbal, Director of Mughal Group, shared his sentiments on this landmark occasion, stating, “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.”
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, 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.
About 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, aiming to leverage capital markets for continued success.
About 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.
About 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.