ISLAMABAD, July 16: The Privatisation Commission Board (PCB) is expected to meet on Monday next to approve issue of global depository shares (GDS) of National Bank of Pakistan in the international market.

When contacted, Minister for Privatisation and Investment Zahid Hamid confirmed to Dawn that a meeting of the PCB was being convened on July 23 that would also discuss the launch of GDS of the country’s largest bank.

Responding to a question, the minister said the meeting would discuss size of the GDRs, its pricing and schedule of events.

The government has so far divested a total of about 23.2 per cent shares of the National Bank through a series of public offerings in November 2001, February 2002, November 2002 and November 2003.

Prime Minister Shaukat Aziz had directed the Privatisation Commission to hold road shows for GDRs of the NBP without gaps in between and completed just before actual book building.

The PCB is also expected to consider Habib Bank Limited’s GDRs, which are expected to take place after two months of its initial public offering currently in the subscription stage.

Some of the other transactions planned for the next few months include SME Bank, National Investment Trust Limited, State Life Insurance Corporation, Pakistan Petroleum Limited and National Power Construction Company.