Pakistan Stock Exchange Sets Auction Dates for GOP Ijarah Sukuk

Stock Exchange Announcements

Karachi: The Pakistan Stock Exchange Limited (PSX) has announced the upcoming auction for the sale of Government of Pakistan (GoP) Ijarah Sukuk (GIS), scheduled for July 25, 2024, as part of its Auction Target Calendar for July 2024.

According to information available from the Pakistan Stock Exchange (PSX), the auction will encompass various categories of GIS. The Short Term GIS, with a 12-month tenure, has a target auction size of PKR 10 billion, with the settlement due the following day on July 26, 2024.

For the Fixed Rental Rate GIS, the auction targets include PKR 10 billion each for the 3-year and 5-year tenures, culminating in a total target auction size of PKR 20 billion. Similarly, the Variable Rental Rate GIS will also aim for PKR 10 billion for both the 3-year and 5-year durations, totaling another PKR 20 billion in auction size.

Auction notices and other pertinent details regarding the GIS offerings will be communicated to market participants ahead of the auction date, ensuring transparency and preparedness among all involved parties.