Eight IPOs and SPOs: homework done for capital market transaction roadmap: PC

The Privatisation Commission has completed the homework for making ''Capital Market Transaction Roadmap'' for initiating eight initial public offerings (IPOs) and secondary public offerings (SPOs) of as many as eight state-owned entities. Sources in Privatisation Commission (PC) said that the concept of ''Capital Market Transaction Roadmap'' was approved by the Cabinet Committee on Privatisation for initiating eight IPOs and SPOs through stock markets.
They claimed that the PC has been authorised to move ahead with the programme to privatise shares of public sector holdings through stock exchanges. In energy sector, government plans to offer IPOs of the Islamabad Electric Supply Company and Faisalabad Electric Supply Company and GDR of Kot-Addu Power Company. It is estimated that the sale of Iesco and Fesco shares could generate $55 million. The proposed GDR of the Kot Addu Power Company (Kapco) is to offer international investor five per cent shares and the transaction will generate around $22 million.
The government plans to offer shares of three public sector entities for sale, including the Pakistan Petroleum Ltd (PPL), the Pak-Arab Refinery Company (Parco) and the Government Holding Private Ltd (GHPL) through stock exchanges. The PC plans to offer 2.5 per cent shares out of total 69 per cent owned by the government in the PPL through SPO at local stock exchanges. This SPO is estimated to be worth $70 million for the government.
The government has 60 per cent shares in Pak-Arab Refinery Company (Parco), and the Government Holding Private Limited (GHPL) is solely government-owned entity, however the number of shares to be sold will be decided at a later stage. The PC intends to offer shares of the State Life Insurance Company and National Insurance Company Limited through the IPOs. The IPO is estimated to generate around $5 million. The PC plans to offer Habib Bank Limited (HBL) shares through SPO and GDR, and GDR of five per cent shares of the National Bank of Pakistan.