HUBCO issues Sukuk wroth Rs6bn for capital requirements

KARACHI: The Hubco Power Company Limited (HUBCO) has issued Sukuk worth Rs6 billion for financing the ongoing capital requirement of the company.

In a communication sent to Pakistan Stock Exchange (PSX) on Friday, it said that HUBCO through its wholly owned subsidiary, Hub Power Holding Limited, had executed and issued an Islamic Shariah compliant discounted Sukuk of Rs6 billion.

The Sukuk is partnered with Arif Habib Limited as its arranger, Meezan Bank as Shariah Adivsor and is subscribed by financial institutions, investment companies and other eligible institutions.

“The purpose of this Sukuk is to finance the ongoing capital requirements of the company,” it added.

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