Habib Bank president Zakir Mahmood said on Monday the government of Pakistan has given green light for the issuance of IPO and GDR of the bank, authorizing the Privatization Commission to set a deadline and work out details. Addressing a press conference on the launch of new corporate identity of the bank, he said the bank ...
OGDCL was listed on GDR on December 18, 2006 at a price of US$ 1.89/share, which accounts approximately to Rs. 113.40 (the exchange rate being Rs. 60/US$ 1). Moreover, GoP also launched 20 million shares from its holdings in the company in what is a secondary public offering and what is termed a second IPO ...
Needless to say, a stock market is a very interesting playground; things change quite quickly and decisively. A few days ago we saw a bearish trend in the market and now the trend has changed to bullish. These were the levels and prices where everyone was selling and leaving the market; now, everyone's back on ...
The secondary public offering of Oil and Gas Development Company Ltd (OGDCL) shares has been oversubscribed by 38 per cent, Privatisation Commission statement said on Monday. According to details, the applications for the secondary offering of OGDCL shares is oversubscribed by 38 per cent as the applications received amounted to Rs3.268 billion while the amount required ...
Again, here’s my take on the news. I think the three more important ones, that directly pertain, hence affect, the Karachi stock exchange, are: 1. The release that Prime Minister Shaukat Aziz is to postpone the decision to levy Capital Gain Tax for the next year. 2. The Sindh Government’s decision to discontinue stamp duty on ...
Despite the continuation of investor-friendly policies and a decent growth in corporate earnings, the local capital market remained slow in terms of attracting new listings compared with the previous year. The calendar year 2006 was a depressing year in terms of Initial Public Offerings (IPOs). While the performance of the market is primarily examined by the ...
Various options are now being considered for the privatisation of Pakistan Steel Mills (PS), which includes listing at the stock exchanges of the country, said Minister for Industries and Production Jehangir Khan Tareen on Thursday. Speaking to reporters during his visit to the mills, he said the government would privatise the entity in phases, which could ...
Bahraini Islamic bank Albaraka is planning to float 25 percent of its unit in Pakistan to bring its capital to $100 million, the minimum for a Pakistani bank, an Albaraka official said on Monday. “We are thinking of having an IPO in Pakistan and turning it (Albaraka Pakistan) around and making it an independent bank,” Albaraka ...
The 'Shaukat Tarin Committee' will hold a meeting with all stakeholders of stock market on Thursday evening to give a final shape to a new mode of financing, in order to bring back investors to the lack-lustre stock market and improve liquidity. According to sources, the Committee has improvised the recommendations to be placed with government ...
Lack of appropriate system to change the traditional badla to margin financing dried up the volumes, forcing the market to trade in a narrow band, resulting in serious drain market liquidity. According to a report presented to Shaukat Tarin - led Committee on "Stock Market Liquidity", the stock market is driven by liquidity flows. In case ...
