The government is considering to embark on Global Depository Receipts (GDR) offers of shares from three banks-Habib Bank, United Bank and National Bank-and a power generation company, to be followed by international GDR offer of 10-15 percent shares of the Oil and Gas Development Company (OGDC) on London Stock Exchange.
Zahid Hamid, Federal Minister for Privatisation and Investment, said in an interview with 'Financial Times'. He said, "This OGDC offer will give us access to international capital markets. It will not only enhance the country's profile would but also help OGDC's transformation."
The daily observed that the plan highlights Islamabad's increasing interest in reaching out to international capital markets, almost 12 years after Pakistan Telecom shares were offered globally in this way.-PR