First Rs200bn #sukuk issue launched via stock market
Pakistan's state-owned Power Holding announced the 10-year Sharia-compliant sukuk up to Rs200 billion through the Pakistan Stock Exchange. The amount generated from the Pakistan Energy Sukuk-II will also be used for the settlement of partial circular debt related to the power sector. For the first time, ordinary investors have been allowed to participate in buying a government security. The value of each sukuk unit is placed at Rs5,000. The minimum bid size would be 20 units or Rs100,000. In another development, the SECP has relaxed the time for maturity requirement of government Ijara Sukuk for Sharia-complaint money market sub funds of Pension Fund. The SECP has allowed the Sharia-compliant pension funds to invest in government sukuk from three to five years.
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