Karachi: Sitara Chemical Industries Limited has announced the listing of its Rated, Secured, Privately Placed Sukuk Certificates valued at PKR 2.30 billion on the Pakistan Stock Exchange Limited (PSX). The listing, effective from Friday, May 16, 2025, is conducted under Chapter 5C of the PSX Rule Book, which governs "Privately Placed Debt Securities' Listing Regulations."

Trading of the Sukuk Certificates is set to commence on Monday, May 19, 2025, using the trading platforms provided by the PSX. The settlement of trades will be handled through the National Clearing Settlement System (NCSS) on a T+1 basis, ensuring efficient and timely transactions.

The Sukuk Certificates have a tenor of up to seven years from the issue date, with a floating coupon rate of the 3-month Karachi Interbank Offered Rate (KIBOR) plus 175 basis points. BankIslami Pakistan Limited has been appointed as the Security Agent for this issuance.

According to information available from the Pakistan Stock Exchange (PSX), trading in these Sukuk Certificates is restricted to Qualified Institutional Buyers (QIBs) as defined in Chapter 5C of the PSX Rule Book. The market lot for these certificates will consist of one certificate, each with a face value of PKR 1,000,000.

The National Clearing Company of Pakistan Limited has assigned the security symbol "SITCSC4" to these Sukuk Certificates. THK Associates (Pvt.) Limited, based in Karachi, has been designated as the Registrar/Transfer Agent for the Sukuk Certificates issued by Sitara Chemical Industries Limited.