The final road show for Pakistan Petroleum Limited (PPL) shares initial public offering (IPO) is being held under the auspices of the Privatisation Commission and Lead Manager Elixir Securities Pakistan (Pvt) Ltd in Peshawar on Friday.
Four road shows had already been held in Islamabad, Karachi, Lahore and Quetta.
PPL is the fifth company after NBP, OGDCL, SSGC and PIAC whose shares are being offered to the general public through the capital market. It is one of the large companies in the oil and gas exploration and production sector and is the owner of the Sui gas fields.
The government has approved the divestment of PPL shares through an offer for sale of 10 percent (68.58 million) of the company's issued shares to the general public with a green shoe option of additional 5 percent shares in case of over-subscription.
Applications are being invited in multiples of 500 shares. In line with the government's objective of "Privatisation for the people", preference in allocation will be given to the smallest applicants of 500 shares for a total investment of Rs 27,500.
This will not only benefit the small investors directly, but would also help in broadening the shareholder base and lend additional strength to the market.
The listing of PPL will also add significantly to market capitalisation. It is expected that PPL would become one of the highly traded stocks in the stock markets.
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