Islamabad: For the issuance of Oil and Gas Development Company Limited (OGDCL)’s Exchangeable Bonds by monetizing up to 10 % of Government of Pakistan (GoP) shareholding (up to 430,000,000 shares) in OGDCL (Transactions), the Privatisation Commission is all set to undertake marathon road shows at Abu Dhabi, Singapore, Zurich, London and Hong Kong from June 19 to 21, 2011. The Finance Division and the Privatisation Commission are jointly administering the Transaction.
The Financial Advisory Consortium comprising of Citibank, Credit Suisse, J. P. Morgan and BMA Capital, is assigned the task for the issuance of Oil and Gas Development Company Limited (OGDCL)’s Exchangeable Bonds This is a landmark deal under which the consortium has been tasked to monetize upto 10% of GoP shareholding in OGDCL via an Exchangeable Bond Transaction. A meeting of the PC Board being chaired by Mr. Ghous Bux Khan Mahar Federal Minister for Privatisation on Tuesday June 7, 2011 will also review the progress of the transaction with other agenda items.
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