The Privatisation Commission is all set to hold an open bidding of Kohinoor Oil Mills Limited (KOML) for 60.5 percent shares on 'as is where is' basis, on May 4.
Privatisation and Investment Minister Hafeez Shaikh will supervise the bidding.
In all 10 prospective bidders participated in the final round of the pre-bid moot held on April 13. Privatisation Secretary Salim Gul Shaikh chaired the meeting.
The bidders agreed to fix floor price at Rs 140 per share with minimum increase of Rs 5 or its multiple to raise their bids.
The participants were asked to deposit the required earnest money latest by April 30 along with the required documents to become eligible for participation in the open bidding.
The respective representatives of the print and electronic media will be invited to witness the process.
The vegetable ghee plant has a capacity to produce 27,200 tonnes ghee, while solvent extraction plant has annual rated capacity of 33,000 tonnes.
Unlike other ghee mills, the unit has seed handling/crushing equipment as well as solvent extraction plant (SEP).