ONGC Prepares for Share Sale Next Month, Unfazed by Global Rout
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Oil & Natural Gas Corp., India’s biggest energy explorer, is going ahead with preparations for a possible share sale next month as the stock escaped this week’s global rout, Chairman A.K. Hazarika said.
The sale of a 5 percent stake by the government may take place in September, Hazarika said by telephone today. He had said July 21 that the offer may be made at the end of September.