Mughal Energy offers 10% shares for GEM’s board
KARACHI: Mughal Energy, a wholly-owned subsidiary of Mughal Iron and Steel Industries, has started the process of selling its 10% stake to new investors. The objective is to raise funding and list on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX). In a notification to the PSX, Mughal Iron and Steel Industries said that last week, Mughal Energy applied through PRIDE for listing on the GEM Board. This includes “offering 10% of its paid-up capital as an initial offer to accredited investors in accordance with Chapter 5A of the PSX Regulation”. The GEM Board is a


