Mughal Iron & Steel raises Rs 3 bln by issuing Sukuk

By MG News | March 04, 2021 at 09:55 AM GMT+05:00

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March 4, 2021 (MLN): Mughal Iron & Steel Industries Limited has raised and received Rs.3 bln in its designated bank account by successfully issuing Rated, Privately Placed, Secured, to be Listed, Sukuk (Islamic Bonds) to Qualified Institutional Buyers (QIBs) for a period of 5 years.

As per the company's notice to PSX, the funds raised via Sukuk will be utilized in meeting the working capital requirements of the Company.

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