Pakistan fires up $678m OGDCL sale despite hiccups

By Rashmi Kumar
06 Nov 2014

The Islamic Republic of Pakistan is set to raise at least Rp69.7bn ($678m) from the sale of some of its holding in Oil & Gas Development Corp (OGDCL), having set the floor price for the offering at Rp216 a share.

Books for the sale of roughly 323m shares opened on November 5 and will close on November 7 at 10pm Pakistan time.

The floor price was set late on November 5 and represents a 5.9% discount to the stock’s close of Rp229.62 on the same day. It ...

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