Business

ABL's shares selling start today

KARACHI: The government on Wednesday has started sale of Allied Bank Limited’s (ABL) shares by fixing floor price at Rs. 105 per share, ARY News reported.

The Book-building started today at 9:00 A.M and will end on December 11 at 5 P.M. Government offering 131 million shares of ABL to investors and wants to accumulate around Rs.13 billion through the secondary public offering.

The floor price set by the government is around 7 per cent lower than the market price.

The Privatisation Commission’s board has appointed Elixir Securities, MCB Bank and AKD Securities, as the lead manager and book runner for the divestment of government residual shares in ABL.

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