11,374
March 16, 2007
News : The Government plans to hold an auction on May 5 to sell a majority stake in Pakistan State Oil (PSO) worth about $530 million…The potential bidders will conduct due diligence for PSO, the country’s top oil marketing company, from March 19 to March 30…This will be followed by submission of questions by April 16, and an investor forum on April 23. The tentative date for the closing of the transaction is June 29…The bidders short-listed for the deal include Abraaj Capital, Abu Dhabi Group, Al-Ghurair Investment — all from the United Arab Emirates; a consortium grouping Saudi-based Aljomaih Group and Kuwait’s Noor Financial Investment; Bakri International Energy Systems, Dabbagh Group Holding of Saudi Arabia, Goldman Sachs (Asia) Finance and Vitol S.A. of Switzerland.
Pakistani firms that qualified for bidding are MCB Bank, Fauji Foundation, Attock Group of Companies and the Kohinoor Group, which is led by Kohinoor Textile. MCB Bank will bid for PSO in partnership with Malaysian oil giant Petronas… Aaj News
Market Low : 11,310.90 High : 11,438.88
Market Close : 11,374.03 — 63.13 points up
