First Issue of Pakistan’s PKR 200 Billion PES-II Launched

The Pakistan Government-owned, Power Holding Ltd (PHL), revealed last week the launch of its 10-year Sharia-compliant Sukuk with a value up to PKR 200 billion via the Pakistan Stock Exchange (PSX). 

This marks the first instance that ordinary investors have been allowed to purchase debt of a state-owned entity through the PSX. Apart from the banking sector, other eligible investors such as mutual funds, voluntary pension schemes and private funds which are managed by Non-Banking Financial Companies, insurance companies, stockbrokers, fund and trust as defined in the Employees Contributory funds, as well as individual investors having net assets of at least PKR 2 million.

The PKR 200...