The Karachi Stock Exchange (KSE) has approved the application of the formal listing and quotation of Bank Alfalah Limited’s 5th issue of its rated, listed, unsecured and subordinated term finance certificates (TFCs), upon completion of all relevant listing requirements. The Karachi Stock Exchange also arranged a gong ceremony for the formal listing of this debt security.
Speaking on the occasion, Atif Bajwa, CEO of Bank Alfalah said, “The Bank is fully committed to contributing towards the development of the debt capital market in Pakistan and this fifth TFC is another step in this direction. We are happy that this TFC is one of the largest listed TFCs in recent times and its distribution strategy has been to attract a more diversified investor base mainly from the non banking sector. Looking ahead the Bank is exploring new avenues to introduce and invest in a wider array of equity and debt market instruments. We believe this will help spur growth in capital markets. We also wish to thank all the investors for showing such confidence in the Bank.”
Bank Alfalah successfully raised PKR 5,000 million for this TFC. Of the total issuance amount, PKR 3,750 million was raised through private placement and the remaining amount of PKR 1,250 million was raised through the initial public offering that took place on 19th and 20th February 2013. The Bank received an overwhelming response and PKR 4,081 million was received against PKR 1,250 million of issue size, that is a 3.7 times oversubscription.
According to KSE, the trading in the TFC commenced on March 28, 2013. Transactions will take place in the Bank Alfalah TFCs through the Bonds Automatic Trading System (BATS) and will be settled on a T+1 settlement basis. The TFC has already been declared as eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions will be settled through the National Clearing Company of Pakistan Limited (NCCPL), which has assigned “BAFLTFC5” as the symbol.
As we enter 2013, Bank Alfalah continues to operate through a network of 471 branches across 163 cities in Pakistan in order to provide consumers, corporations, institutions and governments with a broad spectrum of financial products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, agricultural, Islamic and asset financing.
Some people use their education in helping the humanity. They voluntarily work as some health workers to save people from many diseases. They want to serve the humanity as much as they can.
Students should avoid multitasking while studying. This actually loses the focus at one task. When they will do one task with focus then the work would be done in well manner and give positive outcome.
The assignment writing is very necessary for the development of the field of academics and education. The production of knowledge is done on this instrument. The students are recommended to work on the collection of data and material.
Comments are closed.