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The Privatisation Commission has invited Expression of Interest (EOI) from
Financial Advisory Consortia (FAC) for appointment of a Financial Advisory
Consortium for the divestment of 10 % to 15 % equity (430,093,000 to
645,139,000 shares) of the country's largest oil & gas exploration and
production company listed in the domestic market, Oil & Gas Development
Company Limited (OGDCL) by means of a simultaneous international offering
through Global Depositary Receipts (GDR) and a domestic public offering
(Transaction).
It is expected that the GDR issuance will be jointly led by at least 2 (two)
bookrunners who have demonstrable and proven capability for undertaking,
managing and successfully executing such offerings. In addition the financial
advisory consortium is expected to include at least one financial
institution that has the capability and the track record to manage a domestic
offering. The EOI should comprise on 25 pages including the information
regarding the consortium's basic technical qualifications comprising oil and
gas equity raising, experience of Emerging markets, privatisations, listing in
the stock exchanges of London and Luxembourg, equities research and
distribution capabilities.
The interested financial advisory consortia have been asked to submit their
EOIs latest by January 31, 2005 together with a non-refundable processing fee
of US $ 5,000/- or Pak Rupees 300,000/-. Parties submitting EOI will be
provided a Request for Proposal package, which will be inter alia, specify the
last lade for submission of Technical and Financial Proposals. The PC
reserves the right to select the consortium among the proposals received, or
to determine its own consortium.