Pakistan’s government is seeking to raise about $815 million with the sale of shares in Oil and Gas Development Co Ltd (OGDCL), the largest offering from a local company in almost eight years.
The government is offering 323m ordinary shares and global depositary shares (GDS), each representing 10 ordinary shares. . The GDSs will trade in London.
The deal is part of an initiative announced earlier this year to privatise 68 companies, including 10 banks, and raise $5 billion in the next two years, officials have previously said.