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Islamabad, November 9, 2003
The Initial Public Offering (IPO) of shares of Oil & Gas Development Company
Limited (OGDCL) for the public subscription will be formally opened from
November 10, 2003 (Monday). The application forms can be obtained from all the
banks to offer, stock exchanges, on the web sites: www.privatisation.gov.pk ,
www.ogdcl.com , www.kasb.com and also from
the national dailies of Monday 10 November 2003. The IPO will remain open for
five days i.e. November 10 to 14, 2003 during banking hours.
The Privatisation Commission and KASB Securities held a final Road Show at
Dubai on Sunday for the overseas Pakistanis and other investors. A detailed
presentation was made by the Regional Manager KASB Securtites Azhar Malik,
Investment Officer Benazir Irshad and Consultant PC Syed Faiz Jalal. Mr. Hafiz
Mirza, Director General (banking & Utilities) PC responded to a number of
queries and made certain clarifications regarding the upcoming issue of OGDCL.
Preference will be given to the smaller applicants for the minimum lot of 1000
shares i.e. Rs. 32,000/= only for subscription in the Initial Public Offering
(IPO) of 2.5 % shares (107.5 million shares) of Oil & Gas Development Company
Limited (OGDCL) with a green shoe option of additional 2.5 % shares in case of
over subscription, being offered at a price of Rs. 32/ = per share.
Domestic bankers to offer include ABN AMRO Bank, Allied Bank Limited, Askari
Commercial Bank Limited, Bank Alfalah Limited, Bank Al Habib Limited, Citibank
N.A, Faysal Bank Limited, First Women Bank Limited,
Habib Bank Limited, KASB Bank Limited, Metropolitan Bank Limited, Muslim
Commercial Bank Limited, National Bank of Pakistan, Standard Chartered Bank,
The Bank of Khyber, Union Bank Limited and United Bank Limited.
For overseas Pakistanis in Bahrain, Sultanate of Oman and United Arab Emirates
Habib Bank Limited, while United Bank Limited in Bahrain, Qatar and United
Arab Emirates are providing the OGDCL-IPO processing
facilities.