KE launches first-ever listed retail sukuk

K-Electric announced on Saturday the launch of Pakistan’s first-ever listed retail short-term Islamic debt instrument, the KE Retail Sukuk. The initial public offering (IPO) will open on Aug 4, offering individuals across Pakistan, including KE’s residential and commercial consumers, the opportunity to invest in this landmark financial product. During the current blackout phase, only individual investors can participate. However, from Aug 18 onwards, the IPO will be open to all types of investors, including asset management companies. The pre-IPO phase, amounting to Rs1 billion, was specifically tailored for KE’s industrial and large commercial consumers, as well as high-net-worth individuals. This phase has already been completed, according to KE’s announcement.