ISLAMABAD, April 11: International investment companies have indicated their interest in OGDCL shares, the oil and gas development company announced here on Thursday.

There was a reasonable demand and appetite for OGDCL shares in the international market. Investors have raised the issue of non-availability of OGDCL shares in the market and expect that the Pakistani government will decide to make divestment a prompt, positive and encouraging response is expected from the internal market.

According to the investors, big lots of OGDCL shares were not available in the market as major share holders preferred to retain their share in the company.

The Bank of America Merrill Lynch arranged the Asean Stars Conference in Singapore, attended by various asset management companies and fund managers. OGDCL management attended the conference and highlighted financial state of OGDCL which attracted the fund managers to invest in OGDCL in Pakistan.

They raised quires about the overall economic aspects to understand some misconception about certain relevant areas which investors typically consider while making investment decisions.

The perception was developed on account of repenting of domestic law and order situation; the institutional investors have a better insight about financial and securities market and were likely to take a mature position with long term investment prospective.

The other issues raised during the conference were energy shortfalls with ramifications, effect of circular debt on the ability of OGDCL to meet its funding requirements, gas supply arrangements with the fertilizer sector and resulting benefits for OGDCL.

Also raised were issues relating to overall state of revenues, profitability , cost of doing business, earning per share and share value of the company, dividend policy of the company, availability of OGDCL shares in the market and possibility of further divestment by the government, incentives for the exploration and production (E&P) sector under the existing regulatory and policy regimes governing E&P sector, challengers in general and for E&P sector in specific and security situation in the country.