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Karachi stock Exchange has issued a notice for the approval to the
Provisional listing of Oil & Gas Development Company Limited (OGDCL) and all
the three Stock Exchanges of Karachi, Lahore and Islamabad have allowed the
public subscription during the banking hours from Monday 10 to 14 November
2003 for the Initial Public Offering (IPO) of 2.5 % shares of Oil & Gas
Development Company Limited (OGDCL) with a green shoe option of additional 2.5
% shares. It will be followed by presentations to the members of Karachi,
Lahore and Islamabad Stock Exchanges.
Preference will be given to the smaller applicants for the minimum lot of 1000
shares for 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.
The Privatisation Commission and KASB Securities have jointly held the
successful Road Shows at Islamabad, Karachi, Lahore, Gujaranwala, Faisalabad,
Peshawar, Mirpur (AJK) and Hyderabad at prominent places and respective
Chambers of Commerce and Industries.
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The Cabinet Committee on Privatisation (CCOP) gave approval on September 27,
2003 to the initial public offering (IPO) of 2.5 % shares of Oil & Gas
Development Company Limited (OGDCL) at a price of Rs.32 per share with a green
shoe option of another 2.5 % shares. The divestment of shares through Stock
Exchange would help in broadening and deepening the stock market and to
transfer the benefits of privatisation to the common man in the most
transparent way.