The minimum or floor price has been set at Rs205 per share for the divestment of 70.06 million shares, representing 3.55pc of the paid-up capital of the company from the government held equity in Pakistan Petroleum Limited (PPL).
Analysts noted that the floor price was placed at around four per cent discount to the Wednesday’s market closing price of the PPL stock at Rs214.
The Ministry of Finance, acting through the Privatisation Commission (PC), declared on Wednesday that the Cabinet Committee on Privatisation (CCoP) and Privatisation Commission Board in a meeting on Wednesday considered and approved the minimum price/floor price of Rs205 per share for the sale of shares.
“It may be clarified that any bid placed below the floor price in respect of the offer will not be entertained,” the PC stated.
