Government to sell stake in Kapco

摘要

The Pakistani government intends to divest its entire 40% stake in kot addu power, or Kapco,through a capital markets transaction, minister of state for privatisation Mohammad Zubair told IFR in an interview. The selloff is likely to take place before the fiscal year ending on June 30, according to Zubair. At the current market capitalisation, the selloff will fetch a maximum of Rs28bn (US$283m). "We want the deal to complete in the current fiscal year to compensate for the gap created after the OGDC [Oil and Gas Development Corp] deal was pulled," Zubair said. In November, OGDC pulled its Rs70bn Global Depositary Receipt issue following a weak response.