The Privatisation Commission on Monday invited expressions of interest for
issuance of exchangeable bonds of Oil and Gas Development Company Limited to sell up to 10 per cent
shares owned by the government in OGDCL which will bring in transaction of 430,000,000 shares.
The OGDCL is the largest petroleum exploration, production and development company in Pakistan, listed
on all three stock exchanges in Pakistan as well as on London Stock Exchange.
In 2003, the government divested 4.98 per cent of OGDCL shares via an initial public offering (IPO)
followed by secondary offering (SO) of 9.5 per cent shares in the form of global depositary receipts (GDRs)
at London Stock Exchange and simultaneous secondary public offering (SPO) of 0.5 per cent to the general
public in 2006.
