Pakistan sets new dates for $816m OGDCL divestment

By Rashmi Kumar
28 Oct 2014

The Islamic Republic of Pakistan’s $816m divestment of some of its stake in Oil & Gas Development Company (OGDCL) is now on track for early November, after a local court order that halted the sale was dismissed by the Supreme Court.

Bookbuilding was originally due to take place from October 9 to October 15, with pricing expected to be disclosed the following day. But the sale of the 323m global depositary shares (GDSs) was halted earlier this month after the Khyber Pakhtunkhwa government, which governs one of the provinces ...

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