Shell Pakistan Limited has officially changed its name to Wafi Energy Pakistan Limited, following the completion of its acquisition by Wafi Energy Holding Limited. The announcement was made in a disclosure to the Pakistan Stock Exchange (PSX).
According to the company, Wafi Energy Holding Limited acquired 187,866,141 ordinary shares, representing approximately 87.78% of Shell Pakistan’s total issued share capital, through a Share Purchase Agreement (SPA) dated October 31, 2023. The acquisition process, which included 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, was completed on October 31, 2024.
Subsequently, on November 27, 2024, the shareholders of the company approved the resolution to rename the company from Shell Pakistan Limited to Wafi Energy Pakistan Limited. The Securities and Exchange Commission of Pakistan (SECP) issued a Certificate of Incorporation on Change of Name on January 13, 2025, officially marking the transition.
The company has assured compliance with regulatory requirements, including the condition to display its former name alongside the new name for a period of 90 days on all official documents and business premises, as mandated by the Companies Act, 2017.
This rebranding marks a significant milestone for the company as it transitions under the ownership of Wafi Energy Holding Limited. The company has informed the PSX and its stakeholders of the change and is expected to continue its operations under the new name, Wafi Energy Pakistan Limited.
