KARACHI, Pakistan (Reuters) – Pakistan will raise more than $1 billion by selling its entire stake in Habib Bank Limited, a government official said Saturday, a deal that will be the country’s biggest privatisation so far.
The government will sell its 42.5 percent stake in Pakistan’s biggest bank at 168 rupees (about $1.68) per share after a successful book-building exercise last week, Mohammad Zubair, the chairman of the Privatisation Commission, said.
[…] Habib, Pakistan’s oldest bank, is 51 percent owned by the Agha Khan Fund for Economic Development and 7.5 percent by private investors.
Habib’s balance sheet grew by nine percent last year to $19 billion, according to its 2014 annual report. Profit after tax increased by 38 percent to $318 million and earnings per share increased from $0.15 in 2013 to $0.22 for 2014.
via http://finance.yahoo.com/news/pakistan-raise-more-1-billion-133332846.html
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