Pakistan will seek to offload its entire stake in Habib Bank and raise up to PRs101.1 billion $992.7 million later this week, potentially making it the largest share sale in the country’s privatisation drive.
The government currently owns 41.5% of Habib Bank and will seek to sell it all up to 609.3 million shares on Friday, according to a term sheet seen by FinanceAsia.
The base deal consists of 250 million shares, representing 17% of the bank’s outstanding capital, which would net the government $407.3 million. An exercised upsize option would tack on an additional 359.3 million shares, or $585.4 million.
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