Auction for GIS: PSX raises Rs243bn against Rs200bn target

KARACHI: Pakistan Stock Exchange (PSX) raised Rs 243 billion against a target of Rs 200 billion for the MoF in the 14th Auction of GOP Ijarah Sukuk (GIS) held on Friday.

The GIS cut-off rates are as follows:

a) *Fixed Rate Discounted*

• 1Y Discounted: 11.7498% (-325.02 bps)

b) *Fixed Rental Rate*

• 3Y FRR: 12.0000% (-189 bps)

• ?5Y FRR: 12.5300% (-131.50 bps)

• ?10Y FRR: 12.7400%(-30.22 bps)

c) *Variable Rental Rate*

Reference Rate: 14.1545%

• 3Y VRR: 13.5945% (-0.56% to the Reference Rate)

• 5Y VRR: 13.7545% (-0.40% to the Reference Rate)

• ?10Y VRR: 14.1045% (-0.05% to the Reference Rate)

Total bids received worth *Rs 952.89 bn.

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