United Bank Limited’s share placement by the Privatisation Commission has received the “Best Deal Award” for Pakistan by The Asset – one of Asia’s most prestigious corporate ranking journals. This award is given on an annual basis to the best performing capital market transactions selected from Asian countries.
The Government of Pakistan via Privatisation Commission, divested 19.8 percent of its residual holding in United Bank Limited earlier this year. A total demand of over $632 million was received against an offer of $382 million, making this one of the largest capital market transactions in Pakistan. The financial advisors to the transaction were Arif Habib Limited, Credit Suisse, and Elixir Securities.