The Pak-Libya Holding Company will raise $8.31 million through an underwritten public listing issuance of Term Finance Certificates (TFC) that will be jointly advised and arranged by the National Bank of Pakistan (NBP) and the Pak-Oman Investment Company, reported AsiaPulse.
This five-year TFC will be the first corporate debt issue by a joint venture investment company in Pakistan and the first private limited company to raise funds through a public listing facility. The NBP and the Pak-Oman Investment Company are cooperating on several corporate bond transactions in Pakistan.
Pak-Libya was established as a joint stock company in 1978 equally owned by the governments of Pakistan and Libya. The company operates as a financial institution and is engaged in various investment and financing activities in the areas of project financing, investment banking and merchant banking. The authorized and paid-up capital of the company in 2001 stood at $66 million and $35 million respectively. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
