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PSX

Shariah Securities Dominate PSX Market

Pakistan has significant potential to expand its presence in the global Islamic economy through innovative Shariah-compliant products, stronger regulations and professional expertise, experts said at an SECP talk in Islamabad. SECP Commissioner Imtiaz Haider said 309 PSX-listed securities are Shariah-compliant, accounting for 65% of total market capitalization and worth Rs13.2 trillion. Islamic mutual fund assets have also surged from Rs722 billion in June 2023 to Rs2.2 trillion, while 197 of Pakistan’s 389 mutual funds comply with Shariah principles.

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Global Markets

Sazgar Reveals ARCFOX Plans in PSX Filing

Sazgar Engineering Works Limited plans to introduce ARCFOX, the electric vehicle brand of China’s BAIC Group, in Pakistan, according to a disclosure to the Pakistan Stock Exchange. ARCFOX has engineering and technology collaborations involving Magna and Huawei. The disclosure signals a potential addition to Pakistan’s electric vehicle market, but the details provided do not specify a launch date, models or prices.Sazgar Reveals ARCFOX Plans in PSX Filing

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PSX

SE Fruits IPO Price Could Reach Rs64

SE Fruits and Vegetable Limited’s IPO book-building portion was fully subscribed within two hours of opening, reflecting strong investor demand. Bidding will continue until September 22, after which the final strike price will be determined. The company is offering 30 million ordinary shares, equivalent to 32.01% of its post-IPO paid-up capital. The IPO has a floor price of Rs40 per share, while the strike price can rise by up to 60% to a maximum of Rs64, subject to demand during the book-building process.

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PSX

QistBazaar Completes PKR 500m Sukuk

Dada Partners (Private) Limited acted as exclusive financial adviser to QistBazaar on its PKR 500 million unrated, privately placed Sukuk. The landmark transaction introduces a Shariah-compliant capital-market structure for Pakistan’s buy-now-pay-later fintech sector and represents the first issuance in a planned Sukuk series. Dada Partners managed the process from concept development and structuring to marketing, investor engagement, subscription and disbursement. Leading corporate and high-net-worth investors fully subscribed to the issuance through a dedicated private-placement fund vehicle.

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