ISLAMABAD, Oct 8: The Federal Minister for Privatization and Investment Dr. Abdul Hafeez Shaikh will address the first presentation to the investors being organized by the Lead Manager KASB Securities, for the Initial Public Offering (IPO) of 2.5pc shares of Oil and Gas Development Company Limited (OGDCL) at Marriott Hotel, Islamabad on October 9 at 4 pm. It will be followed by presentations to the members of Karachi, Islamabad and Lahore Stock Exchanges.

According to a handout issued here on Wednesday the Cabinet Committee on Privatization (CCoP) on September 27, approved the initial public offering (IPO) of 2.5pc shares of Oil and Gas Development Company Limited (OGDCL) at a price of Rs32 per share with a green shoe option of another 2.5pc shares. The divestment of shares through Stock Exchange would help in broadening and deepening the stock market and to transfer the benefits of privatization to the common man in the most transparent way.