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Habib Bank Limited
Download the Brief Profile of Habib Bank Limited
Bidding for sale of 51% shares was held on 29th December, 2003 with highest bid of Rs.22.409 billion. LOA issued on 1st January, 2004.
United Bank Limited
51% shares sold in October, 2002. Payment of US$ 176,907,858 and Rs.1,852,500,000 received.
Muslim Commercial Bank
Download Gazette Notification of Muslim Commercial Bank
75% shares were sold in April, 1991 for Rs.2,420.0 million. Remaining shares have been divested in January, 2001, November, 2001 and October, 2002 for proceeds of Rs.1,287.2 million.
National Bank of Pakistan
23.2% shares have been divested through IPO/POs in November, 2001, February, 2002 (Rs.373.0 million) November, 2002 (Rs.782.0 million), November, 2003 (Rs.604.0 million).
Bank Al-Falah
Download Gazette Notification of Bank Al-Falah
70% shares of Habib Credit & Exchange Bank were sold in July, 1997 for Rs.1,6333.9 million. 2% shares were meant for the employees 28% shares sold in block for Rs.1,226.0 million. The shares not taken up by the employees were also sol. Sale Purchase Agreement was signed on 13th December, 2002. Transaction has been completed.
Banker’s Equity Limited
It was privatised in June, 1996 with 26% shares for proceeds of Rs.618.7 million.
National Development Finance Corporation
It has been merged in National Bank of Pakistan.
Investment Corporation of Pakistan (ICP)
ICP Mutual Funds were divided into 3 lots to encourage competition.
Bidding for Management Rights of ICP Lot ‘A’ Mutual Funds consisting of 12 funds was held on September 21, 2002. Highest bid of Rs. 175 million made by M/s ABAMCO Limited. Agreement for transfer of management rights signed on 11th October, 2002. The transaction stands completed.
Bidding for ICP Lot ‘B’ Mutual Funds was held on 24th October, 2002. Highest bid of Rs.302.5 million made by PICIC. Agreement for transfer of Management Rights was signed on 13th December, 2002. The transaction stands completed.
Bidding for ICP SEMF was held on 22nd March, 2003. Highest bid of Rs.786.786 million made by PICIC. Transfer of Management Rights Agreement signed on 3rd May, 2003. The transaction stands completed.
Allied Bank Limited
ABL was privatized in 1991 with 51% shares being sold to the Employees.