K-Electric to Raise USD 68.49 Million Through Issuance of Sukuk

Pakistani electric supply company K-Electric Limited (KE) announced its plans of raising funds worth PKR 12 billion (USD 68.49 Million) through the issuance of KE rated, secured and privately placed listed Sukuk, as per a communication sent by the company to Pakistan Stock Exchange (PSX).

Why it Matters?

The issuance will see the use of its proceeds in funding permanent working capital requirements and KE’s ongoing routine Capex and Opex. Subject to obtaining all regulatory approvals and completing all statutory requirements and requisite corporate actions, a green shoe option of up to PKR 4 billion (USD 22.83 Million) is also included in the issuance.

Details