Islamabad: Privatisation Commission had received EOIs from three (3) consortia, which included (1) National Bank of Pakistan (NBP), Habib Bank Limited (HBL), Arif Habib Limited (AHL) and Foundation Securities (Pvt.) Limited (exclusive partner of Macquarie Capital) (FSL) (2) Allied Bank Limited (ABL) , KASB Bank, KASB Securities (KASB) and AKD Securities Limited (AKD) (3) United Bank Limited (UBL), Global Securities (GLOBAL), NIB Bank Limited (NIB) and BMA Capital (BMA).
Privatisation Commission, based on stringent selection criteria has appointed a consortium comprising of National Bank of Pakistan(NBP), Habib Bank Limited (HBL), Arif Habib Limited (AHL) and Foundation Securities (Pvt.) Limited (exclusive partner of Macquarie Capital) (FSL) as Lead Managers and Book Runners for the Secondary Public Offering of Pakistan Petroleum Limited (PPL).
This is a landmark deal under which the consortium has been tasked to divest approximately 2.5% of the GOP shareholding in PPL via Domestic Stock Exchanges. The consortium assured Privatisation Commission that the transaction will be completed within the anticipated time frame.
Analysts widely view PPL’s secondary offering as an important step to re-initiate the privatisation programme, bringing Pakistan back on local and international investors radar and set guidelines for privatisation of other state owned entities.
PPL offering also signifies the Government of Pakistan’s efforts to systematically reduce its shareholding in State Owned Enterprises (SOE’s) and empower professional management and common people to manage, own and benefit from these assets.
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