Pakistan has received the Best Second Placement/Best Privatisation Award 2015 in the ASSET’s‘Best Deal Awards’ category in recognition of country’s transactional work on the divestment of Government of Pakistan’s shareholding in Habib Bank Limited in 2014-15.
The ASSET, one of Asia’s most prestigious corporate ranking journals publishing in Hong Kong since two decades, has given the ‘Best Deal of the Year 2015’ Award to Pakistan at The Asset Triple A Regional Awards ceremony held in Hong Kong.
Pakistan’s Minister of State for privatization and Chairman Privatisation Commission Mohammad Zubair received the prestigious award. He was flanked by Pakistan’s Consul General in Hong Kong. Ghufran Memon. Hong Kong’s top executives and policy makers from the finance and banking sectors attended the award ceremony. A number of awards of various categories were given away among financial institutions, banks, investment houses and countries.
The international award is one of the highest appreciations for Pakistan’s Privatisation Commission in realizing divestment of 41.5% stake of the GoP in Habib Bank Limited (HBL).The HBL transaction generated gross proceeds of Rs 102 billion (equivalent to USD 1.005 billion), including foreign exchange inflow of over USD 764 million with over 45 global equity participating with total demand of over 725 Million shares against offer size of around 609 million.
As the financial publishing group in Asia with the widest reach among Asian issuers and global institutional investors active in the region, The Asset takes particular care in producing its annual awards. The ASSET’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets.
