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