UPDATE 1-Pakistan's government hopes for $1 billion from bank stock offer

April 6, 2015 3:12 PM

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ISLAMABAD, April 6 (Reuters) - Pakistan's government hopes to raise up to a billion dollars by selling off its shares in the country's biggest and oldest bank and will begin gauging investment interest this week, the Finance Ministry said on Monday.

The government owns 42.5 percent of Habib Bank Limited, and another 51 percent is owned by the Agha Khan Fund for Economic Development. Only 7.5 percent of shares are currently traded on the open market.

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