ISLAMABAD, Apr 29 (APP):Pakistan’s leading d
igital operator, Jazz, announces the successful closure of its Rs 15 billion Sukuk, marking the first ever and largest short term unsecured Sukuk by a telecom operator in Pakistan.
This will pave way to an entirely new fund
ing avenue for Jazz t
o fund its 4G for all d
igital ambitions said a news release.
With a 30-year track record in Pakistan and investments exceeding USD 10.6 billion, Jazz represents one of the country’s largest investors, leading the cellular industry with a 45% revenue market share, while serving over 71.5 million subscribers.
With the successful closure of this initiative, Jazz management expresses gratitude to its valued investors for their confidence in the d
igital operator and its capacity to generate value for investors, customers, and society at large.
This Sukuk issue will also contribute to the increased utilization of Shariah-compliant financial instruments in Pakistan’s capital markets.
