Pakistan nets $993m from Habib stake sale

After failing to sell a 10% stake in the national oil and gas company, Pakistan succeeds in offloading its 41.5% holding in Habib Bank in the country's largest ECM transaction.

Pakistan nets $993m from Habib stake sale
Habib Bank Plaza in Islamabad

The Pakistan government offloaded its entire stake in Habib Bank and raised $992.7 million in the country’s largest-ever share sale, the latest transaction in the country's privatisation drive.

The government, which previously owned 41.5% of Habib Bank, sold all 609.3 million shares and raised PRs101.1 billion $992.7 million from the sale, according to a source close to the deal.

The base deal consisted of 250 million shares, or 17% of the bank’s...

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