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The Initial Public Offering (IPO) of 5 % shares of Habib Bank Limited (HBL)
with a greenshoe option of 2.5% under the government’s most successful,
‘Privatisation for the People’ Program, which was opened on July 26, 2007 will
conclude on July 31, 2007 i.e. (Tuesday). The total share of 51.75 m shares is
being offered to 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 Privatisation Commission has informed that
no extension in the last date for this subscription will be given.
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 are available 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.