OGDC to appoint financial adviser for share buy-back
ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) Board has authorised to invite Expression of Interest (EOI) for appointment of financial adviser and arranger from commercial/ investment banks/brokerage houses having experience of advising Privatisation Commission (PC) or other companies on valuation/ buy-back of the company’s shares.
An advertisement to this effect was published in the various leading newspapers on September 29, 2008 and a decision in this regard will be taken on receipt of the report from the financial adviser in due course of time.
A press release of the OGDCL Board secretariat has strongly denied the news reports recently published in a section of the press stating that, “OGDCL Board has deferred the decision to buy-back company’s shares to the new Board.
The Board has clarified that a decision to invite EOI for appointment of financial adviser in this regard has already been taken in OGDCL Board’s meeting held on September 11, 2008. app
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