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11pc shares: Divestment of ABL shares fetches Rs14.4b, $20m forex reserves component

11pc shares: Divestment of ABL shares fetches Rs14.4b, $20m forex reserves component

KARACHI: The government fetched Rs14.4 billion from the divestment 11.46 percent shares of sales of Allied Bank Limited (ABL).

State Minister on Privatisation Muhammad Zubair informed that the Cabinet Committee on Privatization (CCOP) had determined the strike price of Rs110 per share for the divestment of the government’s shares in ABL.

He said that the Privatisation Commission had raised Rs14.4 billion including $20 million foreign exchange component, from the sale of 11.46 percent ABL stakes.