Pakistan's United Bank eyeing $ 300 mln stock sale

By Staff
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Google Oneindia News

HONG KONG, Mar 14 (Reuters) Pakistan's government plans to sell up to 0 million of its stake in United Bank through a global share sale, and it has invited six investment banks to pitch for the deal, people familiar with the matter said on Wednesday.

Citigroup , Credit Suisse , Deutsche Bank , Goldman Sachs , JPMorgan and Merrill Lynch are all pitching for the 0 million to 0 million global depository receipt (GDR) sale, the sources said.

A government source said the decision for the deal's lead manager would be made by early April, and the deal should be completed by the end of June. The government is only selling part of its roughly 45-percent stake in United Bank.

REUTERS PV SSC1513

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