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Privatisation Commission is holding the first Road Show at Karachi for the
Public Offering of 5 % GoP shares in Sui Southern Gas Company (SSGC) a company
listed on the Stock Market since 1956. Dr. Abdul Hafeez Shaikh Federal
Minister for Privatisation & Investment will open and address the Road Show
while the company management will highlight the salient
features of the company.
It will be the first secondary Public Offering of SSGC shares being made in
accordance with the government's policy to strengthen, broaden and deepen the
base of the Stock Market. The Government of Pakistan holds 70.43 % shares of
SSGCL while 29.57 % shares are with the general public and institutions.
Road Show at Karachi is being held at Pearl Continental Hotel, on January 16,
2004 Friday at 5 p.m. The general public and the investors are invited to
participate in these Shows to obtain necessary information regarding the
Public Offering of SSGC. The second Road Show at Lahore will be conducted at
Pearl Continental Hotel, on January 19, 2004 Monday at 5.30
p.m.
Preference will be given to the smaller applicants for the minimum lot of 1000
shares for the Initial Public Offering (IPO) of 5 % shares (33.56 million
shares) of Sui Southern Gas Company Limited (SSGCL) 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/=. PC expects
total proceeds from 10 % shares offering to the tune of Rs. 1.74 billion.