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Subscription for the first secondary Public Offering of Sui Southern Gas
Company (SSGC) shares will open from Monday (February 9, 2004) and remain open
for three days. It will close on Wednesday (February 11, 2004) at the close of
banking hours.
To facilitate the general public, the application form for subscription are
being published in the leading Urdu, English and Sindhi national dailies on
February 8, 2004, while the forms can also be obtained from Karachi, Lahore,
Islamabad Stock Exchanges, web sites PC, the Lead Managers to the transaction
and the bankers to this offer.
There are 14 bankers to this offer. Allied Bank Limited, Askari Commercial
Bank Ltd, Bank Al Habib Ltd, Faysal Bank Ltd, First Women Bank Ltd, Habib Bank
Limited, Jahangir Siddiqui Investment Bank Ltd, KASB Bank Ltd, Meezan Bank
Ltd, Metropolitan Bank Ltd, Muslim Commercial Bank Ltd, National Bank of
Pakistan, PICIC Commercial Bank Ltd, and Union Bank Limited. Forms can also be
downloaded from web sites: www.privatisation.gov.pk,
www.ssgc.com.pk, www.amzsec.com.pk and
www.meezanbank.com
The SSGC is a company listed on the Stock Exchanges since 1956. The Government
of Pakistan is presently holding 70.43 % shares of SSGC while 29.57 % shares
are with the general public and institutions.
Preference will be given to the smaller applicants for the minimum lot of 1000
shares for the Public Offering (PO) of 5 % shares (33.56 million shares) of
SSGC (with a green shoe option of additional 5 % shares in case of over
subscription), being offered at a price of Rs. 26/ = per share (including a
premium of Rs. 16/=) with an expectation of total proceeds from 10 % shares
offering to the tune of Rs. 1.74 billion.
Second and third preference will be given to the applicants for 2000 and 3000
shares respectively, while the applications for bigger denomination will be
decided on pro rata basis. The Lead Managers to this transaction are AMZ
securities, Meezan Bank and M. Yousuf Adil Saleem & Co.