ISLAMABAD, Oct 10: The initial public offering (IPO) for the sale of 2.5 per cent shares of Oil and Gas Development Company Limited (OGDCL) will take place in the last week of October.

According to a handout issued here on Friday, the Privatization Commission and lead managers for sale of OGDCL shares, KASB Securities, are holding countrywide presentations for the investors.

After Islamabad, two other ‘road shows’ have been scheduled at Karachi and Lahore. Privatization and Investment Minister Dr Abdul Hafeez Shaikh will address the road show at Karachi on October 13, while the road show at Lahore is being organized on October 15.

The IPO of 2.5 per cent shares (107.5 million shares) of OGDCL has a green shoe option of additional 2.5 per cent shares in case of oversubscription. Preference will be given to the applicants for the minimum lot of 1,000 shares, which are being offered at Rs32 per share.