HONG KONG, June 10 The government of Pakistan will sell its 19.8 percent stake in lender United Bank Ltd for up to 42 billion Pakistani rupees ($426.27 million) on Wednesday, IFR magazine reported on Tuesday.
The deal forms part of an initiative announced earlier this year in which the government will sell stakes in 65 state-owned companies.
Arif Habib, Credit Suisse and Elixir Securities will manage the United Bank deal, said IFR, a Thomson Reuters publication.
The relevant officials at United Bank and the Pakistan government did not immediately respond to calls for comment. ($1 = 98.5300 Pakistani Rupees) (Reporting by S. Anuradha of IFR; Writing by Lawrence White; Editing by Miral Fahmy)