Karachi: All market participants are informed that the Government of Pakistan (GoP) Ijarah Sukuk, specifically the Discounted GIS P01GIS190225, will experience a suspension in trading activities at the Pakistan Stock Exchange (PSX) due to its upcoming maturity payment. The payment is scheduled for Wednesday, February 19, 2025, and will be made to all eligible investors.
The security in focus, the 1-Year Ijarah Sukuk with a maturity date of February 19, 2025, was initially issued through a primary market auction at the PSX on February 21, 2024. In preparation for the maturity payment, trading activities at the PSX, as well as clearing and settlement processes at the National Clearing Company of Pakistan Limited (NCCPL) and movement within Sub Accounts/Investor Accounts at the Central Depository Company (CDC), will be suspended. The schedule for these suspensions is as follows:
For the PSX, the suspension will begin on February 14, 2025, and for the CDC, the shut period will run from February 17, 2025, to February 18, 2025. This suspension is essential to ensure a seamless and accurate processing of the maturity payment to investors.
According to information available from the Pakistan Stock Exchange (PSX), this suspension is a standard procedure to facilitate the orderly settlement of such securities, ensuring that all transactions are processed efficiently and that investors receive their due payments without any administrative hitches.
The designated market category for this security is the primary market auction, indicating its initial issuance directly to investors through the PSX platform. This process allows for the organized distribution of securities and ensures transparency in the trading and settlement activities associated with such instruments.