Sapphire Fibres secures RSOQ for GEPCO privatisation

Mettis Global reported that Sapphire Fibres Limited (PSX:SFL) has obtained a Request for Statement of Qualification (RSOQ) from the Privatisation Commission covering the sale of GEPCO. In a notification to the Exchange, the company said its board has endorsed joining the transaction. Sapphire Fibres pointed out that, as of the disclosure date, it has not taken on any binding obligation.

Pre-qualification by the Privatisation Commission is still required, and so are the remaining corporate and regulatory clearances. The company said it could form a consortium after approval is granted. It also committed to keeping the Exchange updated on any material developments.

At this stage the notice confirms participation in the qualification process only, not a completed transaction. Further approvals remain outstanding before any consortium is formed, according to the company.