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Three days after the opening of the Initial Public Offering (IPO) of shares
of Oil & Gas Development Company Limited (OGDCL) for the public subscription
commenced from November 10, 2003, has witnessed enthusiastic and very
encouraging response from the general public and the investors. The
application forms are being obtained from all the banks to offer, stock
exchanges of Karachi, Lahore and Islamabad and from the web sites of:
www.privatisation.gov.pk , www.ogdcl.com , www.kasb.com Forms are also
available in the national dailies of Monday 10 November 2003 issue. Photo
copies of these forms are also acceptable. The IPO will remain open till
November 14, 2003 during banking hours. The large scale participation of
general public being noticed for this issue reflects the peoples interest in
this lucrative investment opportunity, which will also deepen the capital
market and broaden the base of base of ownership. People from all walks of
life within the country and the overseas Pakistanis are participating in this
offer.
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.