ISLAMABAD, Sept 20: The Privatization Commission (PC) has finalized all arrangements for holding the bidding of three transactions on Saturday including 28 per cent equity stake in Bank Alfalah formerly known as Habib Credit & Exchange Bank.

The other two transactions are Investment Corporation of Pakistan Mutual Fund-lot-A and Lyallpur Chemical & Fertilizers Limited.

The PC had invited Expressions of Interest from interested parties to divest through a Block Sale a minimum of 28 per cent Equity Stake in Bank Alfalah Limited to the general public through an open bidding process. It had asked the Parties submitting EOIs that they must also get requisite clearance from the State Bank of Pakistan prior to bidding for the acquisition of equity stake.

For the sale and transfer of the Management Rights of lot ‘A’ of ICP Mutual Funds, Privatization Commission had recommended nine parties for pre-qualification.

The indicated funds as one lot comprises twelve funds i.e. 1st, 3rd, 4th, 8th, 11th, 12th, 15th, 19th, 20th, 21st, 23rd and 25th.

The PC had received sixteen Expressions of Interest from various local and foreign parties in this regard. The parties recommended for pre-qualification on the basis of the information provided by them in response to the RSOQ and completing the required process, include 1. ABAMCO Limited, 2. Consortium of Arif Habib Securities Limited and Arif Habib Investment Management Limited, 3. Charless Schmitt & Associates Limited (CSA), Hong Kong, 4. Consortium of Pakistan Kuwait Investment Company (Pvt.) Ltd. and Al Meezan Investment Management, 5. Javed Omer Vohra & Company Limited, 6. Khadim Ali Shah Bukhari & Co. Ltd., 7. National Development Leasing Corporation Limited, 8. Pakistan Industrial Credit & Investment Corporation Ltd. (PICIC) and 9. Sulaiman Ahmad Al Hoqani, UAE.

The bidders will bid for the whole lot, which comprises 12 funds. The successful parties will manage the fund under relevant rules prescribed by the Securities and Exchange Commission of Pakistan.

PC will also hold bidding for the acquisition of a minimum 75 per cent shares of Lyallpur Chemical & Fertilizers Limited (LC&FL), a company established by Pakistan Industrial Development Corporation (PIDC) in 1954. LCFL is an unlisted public limited company registered under the Companies Ordinance 1984.