The The Cabinet Committee on Privatization (CCoP) in its meeting chaired by Finance Minister Ishaq Dar after detailed deliberations on Monday approved the floor price of Rs 166 per share for divestment of GoP residual shares in HBL with base size of 250 million shares.
According to the approved Offer for Sale Document (OFSD), the offer of HBL share is being made only through the book building method to the eligible international and domestic institutional investors and high-net worth individual investors (HNWI). The book building, the CCOP was informed, would start at 0900 hrs (PST) on Tuesday and conclude at 1700 hrs (PST) on Friday April 10, 2015.
Privatization Commission Chairman Mohammad Zubair informed the finance minister that in its meeting ON Monday morning the PC Board considered the HBL pricing benchmarks, demand of investors at various price levels and other influencing factors as presented by the financial advisors and made its recommendations for the price at which GoP shares in HBL were to be offered. The PC Board and CCoP will meet on Saturday, April 11, 2015, to approve the strike price based on the final results of the book building process.
