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

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

Add Mettisglobal as a Trusted Source on Google

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	182,241.78 412.98M	0.54% 982.10
ALLSHR	110,583.67 943.78M	0.59% 653.91
KSE30	54,431.71 88.75M	0.62% 333.09
KMI30	256,914.21 109.86M	0.51% 1306.68
KMIALLSHR	71,041.31 586.34M	0.56% 392.65
BKTi	51,712.76 42.20M	1.08% 554.64
OGTi	36,659.58 6.31M	0.32% 116.76

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,280.00	64,680.00 63,785.00	195.00 0.30%
BRENT CRUDE	75.22	77.52 75.22	-1.08 -1.42%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-2.20 -2.04%
ROTTERDAM COAL MONTHLY	118.00	118.00 117.60	-1.20 -1.01%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	71.51	0.00 0.00	0.10 0.14%
SUGAR #11 WORLD	14.86	15.14 14.71	-0.26 -1.72%