Shell to sell shares in Pakistani company due to losses from currency.
Shell Pakistan Limited (SPL) informed the board of directors of The Shell Petroleum Company Limited (SPCo) of its intention to sell its shares in SPL at a meeting of the board held on June 14, 2023, according to a notice to the stock exchange.
An announcement about the development was made by Shell Pakistan Limited to the Pakistan Stock Exchange. 77 percent of the local activities are owned by Shell Petroleum firm (SPCo), the parent firm of Shell Pakistan.
The statement in the notification read, “This announcement has no effect on SPL’s ongoing business operations.”
