The government will notify Initial Public Offering (IPO) of 10 percent of its shares in the Kot Addu Electric Power Company (Kepco) in the third week of October with 10 percent green-shoe option, official sources in the Privatisation Commission told Business Recorder on Monday.
Sources disclosed, although Kot Addu Electric Power Company had been privatised, the government still holds around 64 percent of its shares.
They said that the government wanted to float its shares in the stock market through the IPO of 500 shares with 10 percent green-shoe option, adopting the formula followed in the case of PPL shares last month, which benefited half-a-million people.
The price of shares will be approved by the cabinet committee a few days before the notification of the IPO.
Sources said that the price of Kepco shares would be fixed much less than its actual value so that maximum number of small investors and common people could take advantage of the government's privatisation policy.
The shares of the PPL, which was offered at Rs55 to the general public, was selling at Rs113 per share in the stock market while the price of the OGDC shares also doubled in a few months.
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