The government is planning to launch Global Depository Receipts(GDRs) of National Bank, Habib Bank and Kot Addu Power Company Limited (Kapco) for the financial year 2011-12, it is learnt. Sources said the Privatisation Commission had recommended to the recently held meeting of the Cabinet Committee on Privatization (CCoP) with Finance Minister in the chair to carry out capital market transactions of State Owned Entities (SOEs) in the next fiscal year for estimated value of $254 million.
This was proposed that sale of 5 percent shares of each Kapco, HBL and NBP to the international investors
through GDRs would fetch $151 million. The proposed date for listing of Kapco GDR is September 11,
HBL, January 11 and NBP, June 11 of the financial year 2012. The total shareholding of the government is
40 percent in Kapco, 37 percent in HBL and 66 percent in NBP. The total earning from the GDRs of three
entities has been estimated at $151 million.
