Sukuk

Sukuk (Fresh issue of up to PKR 25,000 million)

K-Electric is delighted to launch a Listed Sukuk of up to PKR 25,000 million (inclusive of PKR 5,000 million Green Shoe option). The Sukuk is secured, having a tenor of seven years and has been rated AA+ by VIS credit rating agency.

Out of the total Issue size of PKR 25,000 million, PKR 23,708 million has been successfully raised through Pre-IPO placement and PKR 1,292 million is being offered to the general public by way of Initial Public Offer. The Sukuk will be listed on Pakistan Stock Exchange.

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Sukuk-Ul-Shirkah

In 2015, after the tremendous success of the KE AZM Sukuk, KE launched the Sukuk-ul-Shirkah (Shirkat-ul-Milk), worth PKR 22 billion, out of which PKR 7 billion was offered to the general public. The proceeds were utilised to prepay long-term loans to the International Finance Corporation and the Asian Development Bank.

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