Subscription for OGDCL shares opens

Posted on 01.11.07 by StockPK Team @ 11:27 am    

The three-day subscription for Oil and Gas Development Company Limited’s 21.505 million ordinary shares will open from Thursday.

This offer is being made at a price of Rs110 per ordinary share of Rs10 each, inclusive of a premium of Rs100 per share, but excluding the share transfer fee.

Application for shares must be made for 500 shares or in multiples of 500 shares only.

The minimum amount of application for subscription of 500 shares is Rs55,075 in case of physical transfer and Rs55,005 in case of transfer under the book entry system.

“The OGDCL with largest oil & gas reserves and exploration acreage in Pakistan and with its planned expansion in exploration and production activities, is well poised to benefit from the increasing demand for energy,” said Executive Director (Petroserv) OGDCL, Tahir Aziz-ud-Din here on Wednesday.

Giving a presentation on OGDCL at Lahore Stock Exchange (LSE), he said that enhanced gas consumption reflected rapid economic growth in the country.

Source: The News