Privatisations set stage for Pakistan ECM comeback

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By Rashmi Kumar, Rev Hui
03 Jul 2014

Pakistan is finally back on equity investors' radars after years of absence, with two deals being priced in June alone. Although regulatory constraints have put off some investors, the country’s awakening is expected to transform its equity market, write Rev Hui and Rashmi Kumar.

The Pakistan government tapped the capital markets twice in June, raising a combined Prp53.6bn ($543m) from stake reductions in United Bank (UBL) and Pakistan Petroleum (PPL). The former priced on June 12 and the latter on June 30.

Both transactions saw ...

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