The Cabinet Committee on Privatisation (CCoP) on Friday approved secondary public offering (SPO) of 70.05 million shares from the government held equity in Pakistan Petroleum Limited (PPL).
The Privatisation Commission (PC) conveyed the information to PPL, stating that the offer would be open to both international and domestic institutional investors and high net worth individuals (HNWI) through a book building process, to be executed in the last week of this month.
PPL in an announcement said: “The PC has further advised that the CCoP has approved offering of 7m shares to the general public with preference to existing employees of PPL through a subsequent subscription process within next few months.”
