The Privatisation Commission has announced the appointment of a consortium consisting of Citibank, Credit Suisse, J.P Morgan and BMA Capital as Financial Advisory Consortium in the issuance of Oil and Gas Development Company Limited (OGDCL) exchangeable bonds. Privatisation Commission Secretary Imtiaz Kazi and representative of the consortium Syed Sikander Zulqarnain signed the financial advisory services agreement for OGDCL exchangeable bond. The consortium is tasked to monetise up to 10 percent of government shareholding in the OGDCL amounting to 430,000,000 shares an upcoming transaction through the exchangeable bonds. After the signing, a meeting pertaining to OGDCL exchangeable bonds also took place under the chairmanship of the Secretary Privatisation Commission. The representatives of State Bank of Pakistan, Ministry of Finance and OGDCL were present in the meeting. The Financial Advisory Consortium for OGDCL exchangeable bonds presented an overview on the transaction process and also highlighted the performance benchmarks, timeline and responsibilities of all the professional parties involved.
