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