Hub Power Company’s PKR 5 Billion Sukuk Certificates Listed on the Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) has announced the listing of the fifth issuance of Hub Power Company’s (Hubco) Privately Placed, Rated and Secured Sukuk Certificates (PPSCs) of PKR 5 billion on the PSX, effective 15th of December 2020. The listing was made in pursuant to Chapter 5C of the PSX Rule Book, under ‘Privately Placed Debt Securities’ Listing Regulations’.

According to a PSX statement issued on the 14th of December 2020, the PPSCs have a four-year tenure with a profit rate of one-year Karachi Inter-Bank Offered Rate (KIBOR) at 190 basis points, with the face value of each Sukuk certificate priced at PKR 100,000. Proceeds from the issuance will be used to optimise Hubco’s balance sheet.

Trading in the PPSCs will commence from t...