Pakistan’s Mecom Gas Pvt Ltd eyes $20mn IPO to build LPG storage: report

Mecom Gas Pvt Ltd, a Pakistani Liquefied Petroleum Gas (LPG) marketing and distribution company, is considering an initial public offering (IPO) on the Pakistan Stock Exchange to raise $20 million for the construction of a liquefied petroleum gas storage facility. According to Bloomberg, the company, which imports LPG from the Middle East and distributes it across Pakistan, is in talks with the investment bank Arif Habib Ltd. to advise on the IPO, Chief Executive Officer Kamran Afzal said. The company seeks to build 3,000 tons of storage capacity with the proceeds, he said.