Pakistan Plans Biggest State Asset Sale in 8 Years
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Pakistan’s government will offer 10 percent of its shares in Oil & Gas Development Co., the biggest sale in eight years, to meet targets as part of a loan program with the International Monetary Fund.
The sale of 322.5 million shares, or a 7.5 percent stake in the company, will take place “on or around Oct. 2,” according to a regulatory filing today. The sale is valued at about 85 billion rupees ($827 million).