Why Nawaz Sharif has sold Habib Bank? Pakistan or Who else has bought it?Unfortunate it for Pak.

[Riemn]

"HBL Pakistan" and headquartered in Habib Bank Plaza, Karachi, Pakistan, is the largest bank in Pakistan. The bank has a network of over 1500 branches and over 1000 ATM(S) in Pakistan and 55 branches worldwide. It has a domestic market share of over 40%. It continues to dominate the commercial banking sector with a major market share in inward foreign remittances (55%) and loans to small industries, traders and farmers.

Banks play important role to elevate property , Govt has bank to facilitate poor masses by financing them for education/homes and other in all over the world. Pakistan has the best Bank and NAwaz Sharif has sold it.

QUestions are Who bought it?

Which company/person/nationality bought it?

How they generate this much money to buy that Bank, if they are foreigners , which country are they from? What Bank they own before, What experience they have it?

http://www.modernghana.com/news/114014/1/the-role-of-financial-institutions-in-poverty-redu.html

The Role Of Financial Institutions In Poverty Reduction

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A CASE STUDY OF THE ROLE OF THE NSOATREMAN RURAL BANK LTD.

The author looks at the poverty level in Ghana and how Nsoatreman Rural Bank Ltd and how the Bank employs its Credit facilities With Education to support the Governments Programme to alleviate poverty in the Country.

 

[monh zorr]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

سب باتیں بتانےکی نہیں ہوتی،،اور خاص طور پر آپکو

 

[GeoG]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.


Why an Indian .... is so interested to know about it..

 

[chiku]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

Thread bananay say pehlay research karna zarori hota hai.

 

[GeoG]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

.

I am not going to get involved in this f... talk of yours
will keep exposing Indian ..... on this forum...


Don't remove quotes so that I know and can respond to indian m.......

 

[aliahmad297622]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

N league zardari should sold to raw buy one get one free

 

[Night_Hawk]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

[h=1]Pakistan Gets $1.02 Billion for Habib Bank Stake[/h][h=2]Foreign investors account for majority of funds raised[/h]

ENLARGE

Pedestrians walk past Habib Bank Plaza, head office of Habib Bank Ltd., in Karachi, Pakistan, in this 2012 photo. Saturday the Pakistan government sold its stake in the bank for $1.02 billion. PHOTO: BLOOMBERG NEWS



By QASIM NAUMAN

Updated April 12, 2015 2:03 p.m. ET2 COMMENTS

ISLAMABAD, Pakistan—The government sold its entire stake in the country’s largest private-sector bank for $1.02 billion Saturday, the biggest so far in a series of divestitures planned to help revive Pakistan’s economy.
The government approved a strike price of 168 Pakistani rupees, about $1.68, per share, for its 41.5% stake, or 609 million shares, in Habib Bank Ltd. on Saturday, compared with the floor price of 166 rupees, or $1.66, set at the start of book-building, which began Tuesday.
Pakistan’s privatization minister Mohammad Zubair said the stake was “heavily oversubscribed,” with offers worth $1.6 billion for 955 million shares, of which $1.2 billion was offered by foreign investors.
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“This is by far the largest in Pakistan’s history, the demand that we got,” Mr. Zubair said. “It’s also the largest for any Asian frontier market country.”
Of the $1.02 billion raised, the finance ministry said $764 million was foreign investment.
“The bulk of this money, $764 million dollars [from international investors], will boost foreign exchange reserves, which will stabilize the currency further, which in turn will have a positive impact on inflation,” Mr. Zubair said.
Pakistan had $16.7 billion in total liquid foreign exchange reserves as of April 3, according to the central bank.
Prime Minister Nawaz Sharif’s government has made privatization and divestitures from as many as 31 state enterprises major components of its plan to boost Pakistan’s economy, especially its foreign exchange reserves. Mr. Sharif’s government has already sold shares in United Bank, Allied Bank and energy company Pakistan Petroleum Ltd. A plan to sell a portion of the government’s stake in the Oil and Gas Development Co. Ltd., the country’s largest oil and gas business, for $800 million was abandoned in Novemberbecause of poor investor demand.
The sale of the government’s Habib Bank stake is Pakistan’s largest capital market transaction in a decade, officials said. The government is currently working on the privatization of Pakistan International Airlines, Pakistan Steel Mills and several power distribution companies, finance ministry and privatization commission officials said.
Brokers and analysts said interest in the Habib Bank shares was boosted by strong participation by foreign investors.
“The response was far better than earlier expected. Nobody expected that it could cross a billion dollars,” said Mohammed Sohail, chief executive of Topline Securities, a brokerage based in Karachi, Pakistan. “Investors globally are looking at Pakistan positively, especially because of the gradual economic recovery over the last two years.”
Habib Bank has Pakistan’s largest deposit base and the most extensive network of branches. It has operations in 29 countries, according to the bank’s website. The Aga Khan Fund for Economic Development bought a 51% stake in the bank when it was privatized in 2004.

http://www.wsj.com/articles/pakistan-gets-1-02-billion-for-habib-bank-stake-1428763658





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[Almullah]

Re: Y Nawaz SHarif has sold Habib Bank?Pakistan or Who else has bought it?Unfortunate it for Pak.

Why an Indian .... is so interested to know about it..

Yes exactly being spying to getting deeper into details - just back off & shut that tone of rhetoric, its sad they are neighbors. But don't poke nose into Pakistani economy or anything, or as May weather & Paconio boxing will get smack in the face!