KARACHI — K-Electric Limited (PSX: KEL) has initiated the process for listing its Rs3 billion short-term Sukuk Certificates on the Pakistan Stock Exchange (PSX), with the Exchange announcing the submission of a formal application for the listing.
According to the PSX notification issued on Monday, the total size of the Sukuk issue stands at Rs3 billion, of which Rs1 billion has already been privately placed with pre-IPO investors. The remaining Rs2 billion—comprising a base offer of Rs1 billion and a green-shoe option of an additional Rs1 billion—is intended to be raised through a public offering.
These Sukuk Certificates are rated and unsecured, and are being issued for short-term financing purposes. The listing and public issuance are being conducted in accordance with the regulatory framework laid out by the Securities and Exchange Commission of Pakistan (SECP).
In line with SECP Circular No. 16 of 2023, issued on November 8, 2023, the Draft Prospectus for K-Electric’s Sukuk Certificates has been made available for public review and comment. Stakeholders and investors can access the document via the PSX website under the section titled “Public Comments on Draft Prospectus of Sukuk Certificates of K-Electric.”
The move marks another effort by K-Electric to diversify its funding sources amid ongoing financial constraints in the power sector and to bridge short-term liquidity requirements.
The public comment period is a regulatory requirement intended to ensure transparency and investor confidence ahead of formal listing approval.
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