KARACHI: Pakistan Stock Exchange (PSX) has raised Rs 119 billion against a target of Rs 100 billion for Ministry of Finance in the 12th auction for GOP Ijarah Sukuk (GIS) on Thursday.

Pakistan Stock Exchange conducted an auction for the sale of Government of Pakistan Ijara Sukuk (GIS) bond.

Budgetary requirements: Ijara Sukuk funding to help govt save Rs32bn per year

The GIS cut-off rates for one year discounted stood at 15.9900 percent down 123.49bps, for three year FRR at 15.0017 percent down 63.83 bps, for five year FRR at 14.3800 percent down 61bps, for three year VRR at 18.5925 percent down 1.35 percent to the Reference Rate 19.9427 percent and five year VRR at 18.8326 percent down 1.11 percent to the Reference Rate19.9427 percent. For the auction total bids of Rs 451 billion were received.

Copyright Business Recorder, 2024