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The application forms for the Initial Public Offering (IPO) of shares of
Oil & Gas Development Company Limited (OGDCL) for the public subscription will
be made available at 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 from Monday 10 to 14 November 2003.
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, subject to approvals
from the monetary authorities and central banks in the mentioned countries.
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.
The Offer for Sale Document to this effect has been published. The
Privatisation Commission and KASB Securities had 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. It will be followed by presentations to the members
of Karachi, Lahore and Islamabad Stock Exchanges.