12
Apr
12:12
Agha Steel raises funding for expansion
Agha Steel Industries (ASIL) plans to raise PKR 5 billion ($43.2 million) in debt through the issuance of an Islamic bond (Sukuk) in order to fund its capacity expansion plan and invest in modern technology, according to Pakistani press reports.
The rebar and wire rod producer has mandated Habib Bank Limited and Bank AL Habib Limited as lead advisors and arrangers for the transaction. Bids from qualified institutional buyers will be received from 10-30 April.
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