The Pakistan Stock Exchange (PSX) said that the government has received Rs. 12.7 billion from the sale of Ijarah Sukuk bonds.
Bids amounting to Rs. 23.7 billion were placed at the auction, which included a one-year fixed-rate discounted (FRD) Sukuk.
The Government of Pakistan Ijarah Sukuk (GIS) was up for auction, with fixed-rate discounted, variable rental rate (VRR), and fixed rental rate (FRR) available.
When it came to the one-year fixed-rate discounted (FRD) Ijarah Sukuk auction, the government had originally set a target of Rs. 10 billion.
15.3 billion rupees were generated out of the total amount of bids received for the one-year GIS FRD; competitive bids made up 15.12 billion and non-competitive bids, 184.88 million.
Apart from the FRD Sukuk, the government procured Rs. 9.68 billion by selling GIS VRR bonds, of which Rs. 9.65 billion were authorized by means of competitive bidding. While the five-year GIS VRR raised Rs. 9.67 billion, the three-year GIS VRR contributed to the raising of Rs. 6.6 million.
While offers for the five-year FRR bond were turned down by the government, the three-year FRR Sukuk brought in Rs. 425.42 million.
