Karachi: Trading of the newly issued Government of Pakistan Ijarah Sukuk (GIS) will commence on the Pakistan Stock Exchange (PSX) starting July 30, 2024, following its introduction in a primary market auction on July 25, 2024.
The one-year GIS, listed under the instrument code P01GIS250725, will be available for trading on the Jade Trading Terminal, a BnB Enabled Terminal. This financial instrument, with a face value and minimum trading unit set at Rs. 5,000, offers a unique investment opportunity with a maximum buy or sell order capped at one billion units. The GIS features a maturity date of July 25, 2025, with a settlement cycle for continuous sessions marked by T+1, whereas negotiated deals will settle on the market day.
According to information available from the Pakistan Stock Exchange (PSX), the auction for the GIS saw a cut-off price set at Rs. 85.3405 with a rental yield of 17.2249 percent. This significant investment opportunity is further facilitated by its registration and settlement through the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company of Pakistan Limited (CDC), ensuring a robust framework for transaction handling.
Investors interested in the secondary market trading of GIS can seek assistance through designated contact numbers provided by PSX for the Jade Trading Terminal, NCCPL for settlement queries, and CDC for custody-related inquiries. Furthermore, Non-Broker Clearing Members, currently providing market making in listed debt securities, are invited to contact PSX for proprietary portfolio trading in the GIS.
All market participants are advised to refer to the NCSS Settlement Report and the BnB Trade Log on THIMS for verification of their Settlement Value post execution of their trades, ensuring transparency and accuracy in their investment activities.