|
|
|
|
|
Pakistan is set to complete the book building process for the sale of
global depositary receipts of United Bank Ltd.(UBL), the country’s
third-largest bank, around June 22, as part of the government's Privatisation
Program, Mr. Zahid Hamid Federal Minister for Privatisation and Investment
told reporters in Kuala Lumpur , where he was attending the 3rd World Islamic
Economic Forum, says a message received here today from Kuala Lumpur,
Malaysia.
He said that the investors would continue to show strong interest in the UBL
GDR and other upcoming investment opportunities in Pakistan. United Bank's
GDRs would be listed in London Stock Exchange (LSE), he added.
The government would also sell a stake in Pakistan State Oil (PSO), the
country’s largest oil distribution company and hold an Initial Public Offering
of Habib Bank Ltd (HBL) under the government’s most successful program,
‘Privatisation for the People’ in June, which had already benefited a large
number of common citizens and was a step towards the deepening and broadening
the base of the stock markets and would also increase the market
capitalization he said.
During the Malaysia-Pakistan Business Forum, Mr. Zahid Hamid Federal Minister
for Privatisation & Investment also held a meeting with the Prime Minister of
Malaysia Dato Sri Abdullah Ahmad Badawi and conveyed him Prime Minister Mr.
Shaukat Aziz’s good wishes on behalf of the people of Islamic Republic of
Pakistan and informed that the holding of Malaysia-Pakistan Business Forum for
the private sectors of both the countries would significantly contribute
towards further strengthening the close and mutually beneficial relations that
exist between Pakistan and Malaysia, thereby complimenting the efforts of our
two governments. For this reason, the convening of the Pakistan-Malaysia
Business Forum was an extremely important and constructive initiative, he
added.