Pakistan raises $1.2 bn from HBL Privitization

Society Pakistan & World Affairs
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**Hats off to Zubair Umar. After PPL, UBL and ABL , another successful transaction. In a press conference he told that he had to travel in 13 financial hubs like Boston,NYC,London,Paris,Dubai,Hong Kong, Singapore,Tokyo etc with 16 Flights in less than 2 weeks

Government approves $1.2 billion HBL divestment](http://tribune.com.pk/story/868164/government-approves-1-2-billion-hbl-divestment/)**

By AFP
Published: April 11, 2015

http://i1.tribune.com.pk/wp-content/uploads/2015/04/868164-HBLLOGO-1428754934-583-640x480.jpg

[RIGHT]**
Offloading goverment’s 41.5 per cent share in HBL would be the country’s largest privatisation deal in past decade.**[/RIGHT]

****KARACHI: The government on Saturday approved divesting all of its state-owned shares in top private bank HBL for $1.2 billion, in what officials said is the country’s largest ever equity offering.

The government received** $1.6 billion **of offers for its 41.5% in HBL during three days of book-building at London, New York, Singapore and Dubai, the privatisation commission said.

“The (cabinet) committee has approved the selling of whole lot of its shares at 168 rupees a share,” Minister for Privatisation Mohammad Zubair told AFP after the meeting.

“It was the largest-ever equity offering out of Pakistan and largest-ever equity offering in Asian frontier markets, which fetched demand of $1.6 billion.”

**The Privatisation Commission of Pakistan said in a statement $1.2 billion of bids were accepted of the total $1.6 billion of offers.
**

HBL, formerly known as Habib Bank Limited, was part-privatised in 2004, with the Agha Khan Foundation buying the bulk of the shares.

The current offering is the largest privatisation deal since 2006, when the then government raised $712 million from selling its stake in Oil and Gas Development (OGDCL).

The government had planned to offer 250 million base shares in HBL, with an option of selling 390 million more depending on the response.

A quarter were allocated for local investors with the rest to be sold internationally.
Analyst Mohammad Sohail, chief of Topline Securities, lauded the approval of the deal, saying it would bring much-needed foreign currency in the country.

“Of all the shares, 75% have been offered to foreign investors and it would bring $746 million to add to the foreign exchange reserves,” he told AFP.

**HBL, which opened in 1947, has 1,425 branches in Pakistan and an international network spread over 26 countries

**http://tribune.com.pk/story/868164/government-approves-1-2-billion-hbl-divestment/

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Re: Pakistan raises $1.2 bn from HBL Privitization

http://managertoday.pk/wp-content/uploads/2014/12/Muhammad-Zubair.jpg

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Re: Pakistan raises $1.2 bn from HBL Privitization

BLOOMBERG

Pakistan Raises Record $1.20 Billion in Habib Bank Share Sale

by Kamran HaiderFaseeh Mangi

April 11, 2015

http://media.gotraffic.net/images/iSood9QwbZBw/v3/488x-1.jpg

The transaction was part of Prime Minister Nawaz Sharif’s asset sale program under which four transactions have been completed in the past year as the government raises funds from equity and bond sales to decrease the nation’s fiscal deficit. Photographer: Krisztian Bocsi/Bloomberg

**Pakistan has raised a record $1.20 billion in the nation’s biggest asset sale by selling its entire stake in Habib Bank Ltd., the nation’s largest lender by assets.
**

The government sold 609 million shares or its 42 percent stake for 168 rupees a share, a 9 percent discount to yesterday’s closing price, Privatization Commission Chairman Mohammad Zubair said at a news conference in Islamabad today.

The transaction was part of Prime Minister Nawaz Sharif’s asset sale program under which four transactions have been completed in the past year as the government raises funds from equity and bond sales to decrease the nation’s fiscal deficit.

**The government is targeting to narrow the budget shortfall to 4.9 percent of gross domestic product this year from 5.5 percent in the 12 months through June.
**
“Global investors are appreciating Pakistan’s economic progress,” Zubair said. “Pakistan has come into the world market and there is a very bright future which is why investors are coming here.”

Pakistan received demand for 965 million shares or $1.6 billion, the highest offer in any Asian frontier market transaction, Zubair said. International offers amounted to $1.2 billion and offers from domestic investors were worth 45 billion rupees ($442 million), both records, he said.

Habib Bank’s shares rose 1.5 percent to close at 184.35 rupees yesterday after reports of oversubscription on the final day of book building. Shares have declined 15 percent this year compared with a fall of 2 percent in the benchmark KSE100 Index.

**
Pakistan’s focus is now to sell stakes in Pakistan International Airlines Corp. and nine electricity distribution companies by 2016 to help end the energy crisis.**

The asset sale program experienced a setback when political turmoil and falling oil prices prompted the government to suspend its sale of shares in Oil & Gas Development Co. Ltd. in November. The government has sold stakes in Pakistan Petroleum Ltd., United Bank Ltd. and Allied Bank Ltd. since June.

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Re: Pakistan raises $1.2 bn from HBL Privitization

aor yeh sub paisey gnajon ki jaib mein :cobra:

o ganjon load sheding ka kia bana :kursi:

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Re: Pakistan raises $1.2 bn from HBL Privitization

^^ They are slow on solving Electricity Crisis but mega projects need time. LNG from qatargas is flowing in SNGPL & SSGPL Pipelines. Bythe end of 2017 , Neelum Jhelum (969MW) , Jamshoro (1100MW) , Tarbela Extension 4 (1400 MW) , CASA-1000 ( 1000 MW) and LNG based Power Plants (3600MW) will be there in the national grid

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Re: Pakistan raises $1.2 bn from HBL Privitization

Boss se pooch ke batain, PIA ko kab privatise ker rahay hain?

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Re: Pakistan raises $1.2 bn from HBL Privitization

Is he same ,One of the Zameer Farosh brothers
اسد عمر کے بھائی نے کمیشن کیلئے ضمیر بیچ دیا،عمران خان](Redirect Notice)

**Bech day
**
NOOR JAHAN - JO BACHA THA - UMRAO JAN ADA 1972 - YouTube - Video Dailymotion

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Re: Pakistan raises $1.2 bn from HBL Privitization

Fixing Bhutto’s mistakes 30 years too late.

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Re: Pakistan raises $1.2 bn from HBL Privitization

Its in the pipeline but only after restructuring …

And about the Boss thingy, I used to be a hardcore supporter of PML-N on GS back in 2006 when you were not even on this forum… I am a proud supporter of PML-N and will remain a proud supporter till my last !

Unfortunately supporters of those Super Lotas of PTI and their Paranoid Leader finding difficulty to defend their performance in KPK of last 2 years !

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Re: Pakistan raises $1.2 bn from HBL Privitization

aap jaisay logon ki waja se hi NS/SS andhay ho gaye hayn ke jab supporters andhay hayn to ham ankhon ka kia karayn gai :hehe:

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Re: Pakistan raises $1.2 bn from HBL Privitization

Jis din proud supporter of Pakistan ban gaye tou maslay hul hal hona shuru ho jayeingay. Waisay serious questions, Nandi pur project ki kya updates hain, i believe yeh bhi aik mega project tha (around Rs 50 billion cost), is it producing anything or when is it expected to start?