PSX announces the listing of HUBCO’s Sukuk Certificates worth PKR 7,000 million

By MG News | January 17, 2020 at 05:43 PM GMT+05:00

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January 17, 2020 (MLN): The Pakistan Stock Exchange has announced the listing of Privately Placed, Rated and Secured Sukuk Certificate of PKR 7,000 Million (inclusive of a green shoe option of PKR 2,000 million) of the Hub Power Company Limited.

According to the notice issued by PSX, the Sukuk Certificates will be listed on the Exchange with effect from Friday, January 17, 2020, and the trading in these certificates will commence from Monday, January 20, 2020 through Bond Automated Trading System (BATS) and will be settled through National Clearing Settlement System (NCSS) on T+1 settlement basis.

The notice further informed that only Qualified Institutional Buyers (QIBs) are allowed to trade in the Sukuk Certificates. The Market Lot will be one certificates of face value of PKR 100,000 each.

The National Clearing Company of Pakistan Limited has assigned the Security Symbol “HUBCSC2” to the Sukuk Certificates.

Moreover, Arif Habib Limited has been appointed as the Designated Market Maker to the issue, who will provide two-way quotes on daily basis with a maximum spread of 2.5% for the Sukuk Certificates, through BATs.

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