Organization Behavior
Table of Contents Nature of Business: 1 Services 1 Need for Issuance of the IPO: 1 Institution Involved 2 Share registrar 2 Bankers to the issue 2 Domestic Bankers 2 Overseas Banker 3 Auditors 3 Legal Advisor of Bank 3 Lead manager to the Offer 3 Underwriting 4 IPO process: 4 HBL IPO Offering documents include: 4 Application Form: 4 Newspaper Advertisement: 4 IPO offering: 4 Provisional Listing: 5 Criticism on the Price of The Share 6 Justification for Charging Premium 6 Performance 7 Credit Ratings: 7 In 2011: 8 June 29, 2012: 8 September 26, 2012: 8 Share prices 8 Share prices performance: HBL PRO (provisional shares) 8 HBL 9 Analysis from 2008 to 2011: 13
Nature of Business:
HBL established operations in Pakistan in 1947 and moved its head office to Karachi. Our first international branch was established in Colombo, Sri Lanka in 1951 and Habib Bank Plaza was built in 1972 to commemorate the bank’s 25th Anniversary.
With a domestic market share of over 40%, HBL was nationalized in 1974 and it continued to dominate the commercial banking sector with a major market share in inward foreign remittances (55%) and loans to small industries, traders and farmers. International operations were expanded to include the USA, Singapore, Oman, Belgium, Seychelles and Maldives and the Netherlands.
On December 29, 2003 Pakistan's Privatization Commission announced that the Government of Pakistan had formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of the shareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). On February 26, 2004, management control was handed over to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO and three Government of Pakistan nominees.
After privatization in December 2003 which is Pakistan's second largest bank in terms of its total assets (Rs565bn or $9.3bn, as
Nature of Business:
HBL established operations in Pakistan in 1947 and moved its head office to Karachi. Our first international branch was established in Colombo, Sri Lanka in 1951 and Habib Bank Plaza was built in 1972 to commemorate the bank’s 25th Anniversary.
With a domestic market share of over 40%, HBL was nationalized in 1974 and it continued to dominate the commercial banking sector with a major market share in inward foreign remittances (55%) and loans to small industries, traders and farmers. International operations were expanded to include the USA, Singapore, Oman, Belgium, Seychelles and Maldives and the Netherlands.
On December 29, 2003 Pakistan's Privatization Commission announced that the Government of Pakistan had formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of the shareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). On February 26, 2004, management control was handed over to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO and three Government of Pakistan nominees.
After privatization in December 2003 which is Pakistan's second largest bank in terms of its total assets (Rs565bn or $9.3bn, as