Karachi: Pakistan Stock Exchange Limited has announced the listing of Rated, Secured, Privately Placed Sukuk Certificates worth PKR 800 million for At-Tahur Limited. The listing, effective from September 25, 2026, falls under Chapter 5C of the PSX Rule Book, which deals with Privately Placed Debt Securities' Listing Regulations. Trading of the Sukuk Certificates will begin on September 28, 2026, utilizing the PSX trading platform with settlements managed through the National Clearing Settlement System (NCSS) on a T+1 basis.
The Sukuk Certificates, which will mature on March 29, 2027, come with a floating coupon rate linked to the 3-month Karachi Inter Bank Offer Rate (KIBOR) plus an additional 1.3% per annum. Digital Custodian Company Limited has been appointed as the Security Agent for these certificates. Trading is exclusively available to Qualified Institutional Buyers (QIBs), as specified in the PSX Rule Book. Each certificate has a face value of PKR 1,000,000, and the security symbol assigned by the National Clearing Company of Pakistan Limited is "PREMASTSC."
According to information available from the Pakistan Stock Exchange (PSX), the issuance of these Sukuk Certificates aims to assist At-Tahur Limited in managing its working capital needs. The structure of the transaction is based on Shirkat-ul-Aqd (Musharakah), a type of partnership commonly used in Islamic finance. AKD Securities Limited serves as the Financial Advisor and Arranger for this issuance.
The issuance date of the Sukuk was April 13, 2026, with the total subscribed amount including a PKR 100 million green shoe option. The proceeds from this private placement, as per Sukuk (Privately Placed) Regulations, 2017, will be utilized to manage the company's working capital requirements. Rental payments are scheduled quarterly, and the base rate will be adjusted at the end of each quarter based on the prevailing 3-month KIBOR rate.
At-Tahur Limited's latest financial maneuver underscores its strategic approach to optimizing financial operations through Islamic financial instruments within the market category designed for Qualified Institutional Buyers.