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Under the government’s most successful, ‘Privatisation for the People’
Program the Privatisation Commission is all set for the Offer for sale of 5 %
shares of Habib Bank Limited (HBL) with a greenshoe option of 2.5% resulting
in total share offering of 51.75 m shares opening from July 26 to July 31,
2007 for the citizens of Pakistan at an offer price per share of Rs 235/=,
which is the largest ever offering in Pakistan in terms of both value and
number of shares offered.
The total size of the offering is Rs 12.2 billion. of Habib Bank Limited (HBL)
held by Government of Pakistan being offered by the Privatisation Commission.
Keeping the objective of “Privatisation for People” in perspective, for the
first time shares are being offered in lots of 100 and multiples of 100 upto
500 shares, thereafter multiples of 500 shares. The new structure will target
over 517,000 investors the largest ever in Pakistan. The marketable lot for
trading in the stock exchanges will be 100 shares allowing ease of entry and
exit to successful applicants of 100 shares. The 100 shares, application size
with an investment of Rs.23, 500/- will make the subscription affordable for
common man and will allow them an opportunity to become a shareholder in one
of the largest bank’s in Pakistan. The offer price represents an opportunity
to invest in one of the most credible institutions in Pakistan at an
attractive price.
To facilitate the general public and the overseas Pakistanis, the application
forms for this offering will be available from tomorrow from all the
authorized branches of 20 local and five foreign banks and are also being
published in the leading national dailies, which can also be copied for
applying for the shares along with Computerized National Identity Card (CNIC).
The Bankers to the offer in Pakistan include ABN Amro Bank, Allied Bank
Limited, Askari Bank Limited, Bank Alfalah Limited, Bank AL- Habib Limited,
Deutshe Bank AG, Faysal Bank Limited, Habib Metropolitan Bank Limited, Habib
Bank Limited, JS Bank Limited, KASB Bank Limited, NIB Bank Limited, PICIC
Commercial Bank Limited, Saudi Pak Commercial Bank Limited, Standard Chartered
Bank Limited, The Bank of Pakistan Limited, The Bank of Khyber and United Bank
Limited while for the overseas Pakistanis the bankers to the offer are Habib
Bank Limited branches in Bahrain, Oman, UAE and United Bank Limited branches
in Bahrain and UAE. The application forms can also be downloaded for the web
sites: www.privatisation.gov.pk and www.gslpk.com while the forms are also
available at all the Stock Exchanges.
HBL is the largest bank in Pakistan in terms of branch network and advances.
The Bank has 1437 branches in Pakistan and 40 branches overseas in 26
countries. It is the Pakistani based bank with the most diversified
international operations. Global Securities Pakistan Limited is the Lead
Manager for the Transaction.