OGDCL issues clarification regarding selection of Financial Advisor for divestment process

By MG News | December 13, 2019 at 10:47 AM GMT+05:00

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December 13, 2019 (MLN): Oil and Gas Development Company Limited (OGDCL), via notification to Stock Exchange (PSX) has referred to the previous letter of PSX, dated December 3, 2019, with the subject “Enquiry on News published in Print/Electronic Media”, pertaining to the certain statement made by Secretary Privatization during a meeting of Standing Committee on Privatization.

The matter regarding divestment of Federal shares in OGDCL is the exclusive domain of Privatization Commission and in this regard, OGDCL has not yet been informed about the selection of Financial Advisor or otherwise.

It may be pertinent to mention that divestment process conducted by the federal government in the year 2014 was formally disseminated by OGDCL at the time of issuance of offer of sale document and launch of secondary offerings of OGDCL shares.

In this regard, OGDCL assures that it will promptly inform PSX about any price sensitive information during the year 2014 as and when the same is communicated to it by the Privatization Commission.

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