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A meeting of the Board of Privatisation Commission held here today under
the chairmanship of Mr. Zahid Hamid Federal Minister for Privatisation &
Investment finalized its recommendations for CCOP regarding the Initial Public
Offering (IPO) of Habib Bank Limited (HBL) and the listing of United Bank
Limited (UBL) shares on the London Stock Exchange (LSE) through Global
Depository Receipts (GDR).
The Lead Manger for HBL IPO transaction made a presentation before the PC
Board, which finalized its recommendations for approval of the Cabinet
Committee on Privatisation (CCOP) keeping in view the basic objective of the
government to benefit the common citizen of Pakistan under the ‘Privatisation
for the People’ program, by providing broad-based ownership.
The PC Board also formulated its recommendations regarding the UBL GDR
transaction in which book building is expected to be completed by June 22,
2007. The CCOP is scheduled on Tuesday.
The PC Board also took various decisions relating to Pakistan State Oil (PSO),
National Power Construction Company (NPCC) and Jamshoro Power Company (JPC)
transactions. A pre-bid meeting of pre-qualified potential bidders for PSO is
scheduled for June 20, 2007, to respond to the queries of the pre-qualified
bidders who have already completed the due diligence of the transaction and to
finalize the bidding date in consultation with them.
The meeting was informed that the Privatisation Commission was all set to
hold bidding for Hazara Phosphate & Fertilizers Limited (HPFL) on June 18,
2007.
Members of the Board of the Privatisation Commission, senior officials of the
respective Ministries and departments attended the meeting.