ISLAMABAD, Nov 6: The amount received in excess of Rs604 million for the third public offer of 13.13 million shares of National Bank of Pakistan has been refunded to the applicants, said an official handout of the bank on Thursday.

The Privatization Commission received applications worth Rs1.22 billion, which was double the required amount, in response to its offer to the general public. Subscription for this issue was scheduled on October 13-15.

The government offered 13.13 million shares of NBP to the public at a price of Rs46 per share. Applications were invited in lots of 500 shares or multiples thereof.

Preference for allocation was given to the smaller applicants for 500 shares. The remaining shares have been allocated to applicants on pro rata basis.

The government is presently making an initial public offering of OGDCL, SSGC and PIA. The IPOs of PPL and KAPCO will follow in a well-sequenced programme.