Byco Petroleum's Rs 3,120 million Sukuk to get listed

News Image

MG News | September 04, 2018 at 03:04 PM GMT+05:00

0:00

The Pakistan Stock Exchange has approved the Listing of the Privately Placed, Rated and Guaranteed Sukuks of PKR 3,120 million of Byko Petroleum Pakistan Limited.

Byco Petroleum is listing these Sukuks on the Exchange in order to finance the capital expenditure for the expansion of the company’s power, storage and processing infrastructure.

The Sukuk Issue was approved by PSX under the Regulations governing the Over-the-Counter (OTC) Market of Exchange relating to listing of Debt Securities issued to Qualified Institutional Buyers through Private Placement, which have now been replaced with Privately Placed Debt Securities’ Listing Regulations w.e.f June 14, 2018

The said Sukuks will be listed on the Exchange w.e.f Wednesday, September 05, 2018 and trading in the Sukuks will commence one day after the date of formal listing i.e. from Thursday, September 06, 2018 through Bond Automated Trading System (BATS) and will be settled through National Clearing Settlement Systems (NCSS) on T+1 settlement basis, as required under 5C.13 of the Regulations

The eligible investors, who qualify the criteria of Qualified Institutional Buyers (QIB’s), as defined under Regulation No. 5C.2.1. (viii) of Privately Placed Debt Securities’ Listing Regulations, are allowed to trade in the Sukuks of the Company.

However, the requirement of QIBs in the sale/purchase of the said Sukuks will be checked and maintained at Broker level. The Market Lot will be one certificate of face value of Rs.100,000/- each.

The National Clearing Company of Pakistan Limited vide its letter No. NCCPL/CS/152/18 dated April 13, 2018 has assigned the Security Symbol/Company Code “BYCOSC” to the Sukuks of the Company.

JS Global Capital Limited has been appointed as the Market Maker of the Issue, who will provide two-way quotes on daily basis with a maximum spread of 2.5% for the Sukuks, through BATS.

JS Bank Limited, and Burj Capital Pakistan (Pvt) Limited are going to be the financial advisors and Lead Arrangers for this purpose.

A rating of AAA (triple A) was assigned by PACRA on May 31, 2018 for this instrument while the Sukuk was initially issued on January 18, 2017 and due to mature on January 18, 2017.

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg