PC Board recommends secondary public offering of KAPCO shares
By Asad Cheema

ISLAMABAD—The Privatisation Commission Board Tuesday recommended Secondary Public Offering (SPO) of Kot Adu Power Company's (KAPCO) 10 % shares under its program, 'Privatisation for the People'. It will also add the residual earmarked for WAPDA employees.
The PC Board met here under the chairmanship of Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation and Investment. The PC Board pre-qualified eight parties for entering into the data room for the due diligence of Pakistan Steel Mills Corporation (PSMC) while three parties were conditionally pre-qualified subject to the supply of additional information obtained from them. The data room is expected to open in the first week of December 2005. The privatisation of PSMC is at an advanced stage.
The meeting was informed that the Privatisation Commission is inviting Expressions of Interest ("EOI") from reputed International and/or Pakistani entities (solely or as part of a consortium) for the divestment sale of management rights of the funds under the management control of NITL, a Unique Opportunity to Acquire Management Control rights of open-ended mutual funds.
The PC intends to split the Fund under management of the National Investment Trust Limited ("NITL"), the National Investment (Unit) Trust ("The Fund") into a number of parts and divest / sell the right to manage the funds.
To take the Pakistan Petroleum Limited (PPL) transaction forward the PC Board formed a Committee with two PC Board members, senior representative of Balochistan Government and the MD PPL as its members.