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Meezan Bank is the Financial & Sharia Structuring Advisor for Ijaratul Musha & Murabaha Sukuk (Engro Islamic Rupiya – 1 & Engro Islamic Rupiya- 2) Initial Public Offer (IPO) Subscription

June 6th, 2014

Initial Public Offer (IPO) Subscription

Meezan Bank is also acting as banker to the issue for the subscription of Initial Public Offer of ‘Engro Islamic Rupiya 1 & 2 of Engro Corporation Limited’ amounting Rs. 1,000/- Million.

The subscription will commence from Monday, June 9, 2014 for a period of 3 months. Interested investors are requested to visit any of Meezan Bank’s branches across Pakistan. Applications will be accommodated on first-come, first-served basis and there will be no balloting.

SUBSCRIPTION DETAILS

Tenor 03 years & 05 years
Expected Profit Rate      Tenor                                        Expected Rate 36 Months (3 years)                               13.0% 60 Months (5 years)                               13.5%
Expected Profit Payment Frequency Semi Annually
Minimum Investment Rs. 25,000/- or in multiples of Rs. 5,000/- for amounts above Rs. 25,000/-
Principal Redemption At maturity
Put Option The investor/SUKUK holders may ask the company for early redemption at NAV any time after the issue date subject to an early redemption discount as per following     Period                              Early Redemption Discount 1st Year                              5% of Face Value 2nd Year                             3% of Face Value 3rd Year onwards                 2% of Face Value
Trustee / Registrar Meezan Bank Limited (“MBL”) / CDC
Entity Rating “AA-” (Double A Negative) by PACRA

How to Submit?

Application forms (EngroForm) (duly filled and completed) along with the amount of investment (Meezan Bank’s Cross Cheque drawn on Engro Corporation Ltd.-Engro Islamic Rupiya 1 or 2 only).

Please submit the following and ensure compliance of Terms & Conditions mentioned in the application form:

  • Duly filled and completed Application Forms (EngroForm) (shall be signed by the applicant as well as the nominee).
  • Attested Copies of CNIC (both of the applicant and Nominee)
  • True attested copy of Zakat Declaration (if applicable)

For any further details, investors can contact Meezan Bank branch or call 24/7 at our UAN 111-331-331 OR 111-331-332.