OGDC: Secondary Divestment of Shares by Government of Pakistan

The Government of Pakistan (GoP) intends to sell shares of Oil and Gas Development Company, (OGDC) through secondary offer.  It is sale of 10 percent or 322 million shares of its holding. The move will enhance OGDC’s free float from the present 15% to 22.5%. With the reported aim of raising US$800 million from the transaction, OGDC’s indicative offer price comes to PkR 248/share. While the final floor price is yet to be decided, a discount cannot be ruled out going by the size of the offer.  For details visit shkazmipk.com