ISLAMABAD: Shell Pakistan Limited (SPL) has officially rebranded as Wafi Energy Pakistan Limited with effect from January 13, 2025, the company said in a notice to the Pakistan Stock Exchange (PSX).
The company’s name changed following the completion of an acquisition by Wafi Energy Holding Limited, a Saudi energy company and affiliate of the Asyad Group.
“The company is pleased to inform you that the SECP has issued a Certificate of Incorporation on Change of Name dated January 13, 2025. Consequently, the company’s name has changed from ‘Shell Pakistan Limited’ to ‘Wafi Energy Pakistan Limited’ with effect from January 13, 2025,” the notice read.
Wafi Energy purchased 187,866,141 ordinary shares, representing 87.78% of the SPL’s total issued share capital, under a Share Purchase Agreement (SPA) dated October 31, 2023.
The acquisition was followed by a mandatory tender offer to the remaining shareholders as per the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
A Certificate of Incorporation on Change of Name by the Securities and Exchange Commission of Pakistan was also issued. The company also provided a copy of the SECP’s Certificate of Incorporation to confirm the name change.
