BankIslami Ehad Sukuk Gets Oversubscribed

The initial public offering (IPO) of the BankIslami Ehad Sukuk by BankIslami Pakistan Limited has been successfully closed, according to a statement released on the 28th of April 2020. The statement added that the IPO attracted substantial demand from both corporate and retail investors with PKR 320.6 million subscriptions earned against the IPO value of PKR 300 million. 127 applications subscribed for the IPO, which resulted in a 7% oversubscription despite the on-going pandemic.

105 out of the aforesaid 127 subscriptions were received via online subscription channels, accounting for more than 80% of the subscriptions received. This has sent out a strong message that Pakistan’s Sukuk market is moving towards digit...