August 24, 2026 (MLN):
Mughal Iron & Steel Industries Limited (PSX:MUGHAL) has obtained the
Request for Statement of Qualification (RSOQ) issued by the Privatization
Commission for the divestment of GEPCO through privatization, with the Board
approving the Company’s participation in a Consortium comprising Fast Cables
Limited, AKD Securities Limited, AJCL (Private) Limited, and Mughal Iron &
Steel Industries Limited.
The Company said the
Consortium Members had irrevocably designated AKD Securities Limited as the
Lead Consortium Member, authorizing it, through its Authorized Representative
and with power to sub-delegate, to conduct all business on behalf of the
Company and the Consortium during the privatization process.
The Company clarified that, as
at the date of the notice, it had not assumed any binding obligation in respect
of the transaction, which remains subject to pre-qualification by the
Privatization Commission and to all requisite corporate and regulatory approvals
and due diligence, adding that the Exchange would be kept informed of material
developments in this regard.
The aforementioned information was
disseminated through a notification to Exchange.
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