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K-Electric receives Islamic Instrument IPO Award - Press Release issued by K-Electric

February 3, 2014

Following is the text of press release issued by K-Electric Quote According to a K-Electric press release, KE is proud to announce that it has been given an Islamic Instrument IPO Award in an annual IPO Summit organized by the South Asian Federation of Exchanges . K-Electric , formerly KESC will offer Pakistanís first listed Shariah compliant instrument, or Sukuk, that will be launched for all interested investors. AZM Sukuk will provide investors lucrative value for their investment and will be listed at the Karachi Stock Exchange , the Lahore Stock Exchange and the Islamabad Stock Exchange . It is a truly unique investment opportunity for all investors having a minimum investment of PKR 10,000 . The First listed Sukuk is of PKR 6 Billion (inclusive of a green shoe option of PKR 500 Million ).The Sukuk will be offered for 3 tenors, namely 13 months, 3 years and 5 years. Each Sukuk is rated A+ by the JCR-VIS and the Islamic International Rating Agency . The structure of this Sukuk has been approved by the Transaction Shariah Advisory Board which consists of the following Islamic Scholars: Mufti Muneeb Ur Rehman, Dr. Zubair Usmani , Mufti Muhammad Yahya Asim and Mufti Irshad Ahmad Aijaz. KE believes that this issue of Sukuk will pave way for the development of Capital markets for Islamic Instruments. For more information, contact: Syed Ahmed Faraz DGM- Media Cell K-Electric Formerly known as Karachi Electric Supply Company Limited (KESC) 2nd Floor, State Life Building No 11, Abdullah Haroon Road , Saddar, Karachi Tel: +9221 9920 7163d Cell: +923018286193 Email: Unquote

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Source: Pakistan News Releases

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