Islamabad, The Government of Pakistan has announced the appointment of its Capital Market Infrastructure Institutions (CMIIs) - PSX, NCCPL, and CDC - to manage the issuance of the fifth GOP Ijarah Sukuk (GIS) through an auction on May 9, 2024. This latest issue, aimed at both individual and institutional investors, will allow bids starting from a minimum of Rs.5,000.

According to JS Global, the auction will offer various GIS bonds, including 1-year fixed rate discounted bonds and 3 and 5-year bonds with either fixed or variable rental rates. Eligible investors are invited to register for the auction by May 7, 2024, with the process facilitated through an online portal developed by PSX.

The auction platform will enable participants to place their bids directly online, with the settlement of trades scheduled for the following business day, May 10. The instruments, once issued, will be tradable on the Stock Exchange. Detailed instrument codes have been provided for each category of the GIS being offered.

Investors interested in participating in this auction are required to have pre-funded margins, equivalent to 100% of their bid amount, before bidding. For further details or assistance, potential bidders can contact JS Global's customer care center.