PSX to conduct GOP Ijarah Sukuk auction for 1st time in history

By MG News | December 07, 2023 at 12:15 PM GMT+05:00

0:00

December 07, 2023 (MLN): In a significant development, the Pakistan Stock Exchange Limited (PSX) is set to conduct the auction for the sale of 1 year listed Government of Pakistan (GOP) for the very first time in history, according to a notice issued by the local bourse today.

According to the auction calendar released by the local bourse, the government is targeting to raise Rs90 billion from Dec 2023 till Feb 2024 through the auction of GOP Ijarah Sukuk.

The central bank plans to conduct three auctions between December 2023 and February 2024, with one auction scheduled for each respective month to achieve this target.

The first auction is scheduled for December 08, with a target of Rs30bn and settlement on December 11, 2023.

The second auction will be held on January 23, with the same target of Rs30bn, and settlement on January 24, 2023

Lastly, the SBP aims to raise Rs30bn through the auction of GOP Ijara Sukuk in February 2024.

Auction Calendar for GOPIS

Auction Date	Signing of Subscription Undertaking	Settlement Date	Target Auction Size – Rounded Off (PKR in billion)
8-Dec-23	11-Dec-23	11-Dec-23	30
23-Jan-24	24-Jan-24	24-Jan-24	30
20-Feb-24	21-Feb-24	21-Feb-24	30

To recall, he Ministry of Finance (MoF) approved some amendments to the rules governing the issuance, registration, trading, and transfer of GDS through the Capital Market Infrastructure Institutions (CMIIs) such as the Pakistan Stock Exchange (PSX), National Clearing and Settlement Company of Pakistan (NCCPL), and Central Depository Company of Pakistan (CDC)

As per the new arrangement, PSX was authorized to conduct the primary market issuance of government debt Securities, starting from December.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	132,576.99 161.03M	-0.62% -826.20
ALLSHR	82,983.68 903.36M	-0.25% -204.38
KSE30	40,358.80 56.86M	-0.72% -292.66
KMI30	190,727.32 67.92M	-0.71% -1356.60
KMIALLSHR	55,698.48 457.08M	-0.27% -149.22
BKTi	36,242.06 11.15M	-0.50% -180.82
OGTi	28,323.42 10.71M	-0.40% -114.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,745.00	110,265.00 108,625.00	530.00 0.49%
BRENT CRUDE	70.35	70.71 69.61	0.20 0.29%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.45 1.51%
ROTTERDAM COAL MONTHLY	108.00	109.00 107.95	0.90 0.84%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.55	68.94 67.70	0.22 0.32%
SUGAR #11 WORLD	16.52	16.61 16.08	0.39 2.42%