ISLAMABAD, July 10: Third roadshow on the initial public offer (IPO) of Pakistan Petroleum Limited shares will be held at Karachi on July 12, says a Privatization Commission statement.

The venue of the roadshow is Pearl Continental Hotel and the commencement time 4 p.m. The earlier two roadshows were held at Islamabad and Quetta.

Privatization and Investment Minister Dr Abdul Hafeez Shaikh will chair the roadshow, while the management of PPL and lead manager, Elixir Securities, will make presentations, highlighting the merits of the IPO.

The subscriptions for 68.58 million shares at the rate of Rs55 per share will be open from July 19 to 22. Applications will be acceptable in multiples of 500 shares involving a total investment of Rs27,500. Preference will be given to the smallest applications for 500 shares.