Press Archives

BMA Capital praised

KARACHI: Pakistan’s investment banking firm, BMA Capital, has been ranked at No.13 on the M&A league tables according to a foreign news agency, after having successfully advised Etisalat, the telecom giant of the Middle East, on the privatization of PTCL.

Upon the finalization of the deal, PTCL’s privatization would generate US$2.598 billion for the government, making it the largest privatization in the country’s history. It is also the largest Foreign Direct Investment (FDI) inflow ever in Pakistan and the largest telecom M&A deal in Asia since July 2003.

BMA, which has managed several transactions in Pakistan, now heads the league table for privatization advisory in Pakistan, having advised on nearly 70 per cent of all privatization by value in the nation’s history.

Etisalat agreed to pay US$1.96 per share for the 26 per cent strategic stake with management control of PTCL.

BMA Capital’s CEO, Farrukh H. Khan, said on the occasion: "We are proud to have been involved in one of the most important transactions in the nation’s history."

Source: The News
(Posted on: Friday, July 1, 2005)