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PAKISTAN’S OIL AND GAS DEVELOPMENT CORP PLANS $850 MILLION GDR ISSUE -IFR OGDC.KA – RTRS

Sanie Khan
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ogdcPAKISTAN’S OIL AND GAS DEVELOPMENT CORP PLANS $850 MILLION GDR ISSUE -IFR OGDC.KA – RTRS

HONG KONG, June 13 (Reuters) – Pakistan’s Oil and Gas Development Corp OGDC.KA will issue $850 million worth of global depositary receipts (GDRs) in September, IFR reported on Friday, as part of the government’s privatisation plans.

The Pakistan Government owns a 74.97 percent stake in OGDC.

Bank of America Merrill Lynch and Citigroup will act as financial advisers, IFR, a Thomson Reuters publication, reported citing Mohammad Zubair, Chairman of the Privatisation Commission.

The Government also plans to sell down a stake in lender Habib Bank, IFR reported, citing Zubair.

 

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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