sell offPossible Mode of Sell off of Government Stake : Analyst Report

As part of its privatization plan, the government will sell half a dozen enterprises including two hotels in New York and Paris on immediate basis, offload shares in 10 companies in international and domestic capital markets and hand over management control of a dozen enterprises to the private sector. The shares in state-owned units that the previous government gave away to the employees under the Benazir Employees Stock Option Scheme will also be offered to private investors. Overall, 31 enterprises, worth billions of dollars and belonging to sectors such as oil and gas, banking and finance, power, industries and real estate, will be privatized and restructured. Last week, the Cabinet Committee on Privatization (CCOP) approved the privatization and restructuring strategy for these enterprises. In case of profitable companies like banks and oil and gas firms, the government would not sell all of its shares.

 

Company Name Possible Mode of Sell off of Government Stake
Pakistan Steel Mills Privatize
Pakistan International Airlines 2 phases of Transaction
1st Phase: Money Injection by Govt
2nd Phase: 26% sell-off with management control
Oil & Gas Development Company Sell of in International Markets
Pakistan Petroleum Limited Shares offloaded both in Intl. & domestic Markets
Mari Petroleum Limited 2nd Offering or Block sale to JV partner
Govt Holding Private Limited Initial Public Offering or Working Interest in its specific blocks will be sold
Pak- Arab Refinery Company IPO subject to consent of JV partner
Pakistan State Oil Plan to segregate operations and privatize some
Sui Southern Gas Company Limited Plan to segregate operations and privatize some
Sui Northern Gas Company Limited Plan to segregate operations and privatize some
Habib Bank Limited Secondary Public Offering
United Bank Limited Secondary Public Offering
Allied Bank Limited Secondary Public Offering
National Bank of Pakistan Govt will reduce stake and give away management control or Block sale of qualified investor
State Life Insurance Corporation Initial Public Offering
National Insurance Company Limited Divested along with management control
Pakistan Reinsurance Company Limited Govt will reduce stake and give away management control
National Investment Trust Privatize
Small & Medium Enterprise Bank Privatize or offered for merger with 2nd/3rd tier Bank
Heavy Mechanical Complex Privatize

 

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