PAKISTAN GOVERNMENT SET TO RAISE $388 MLN IN UNITED BANK SALE (UBL) – RTRS

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HONG KONG, June 12 (Reuters) – The Pakistan government is set to raise $388 million after pricing the sale of its 19.8 percent stake in United Bank Ltd UBL.KA at 158 rupees a share, IFR reported on Thursday.

The sale of the remaining stake in United Bank is part of the government’s initiative to raise funds through privatisation of 68 state companies, including 10 banks.

Around 80 percent of the shares were sold to international investors, IFR said. The government had set a floor price of 155 rupees per share for the sale, the first Reuters previously reported.

ubl United Bank

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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