Ghani Chemical Industries Ltd Raises Rs. 800 Million From Privately Placed Sukuk

Ghani Chemical Industries Limited (PSX: GCIL) has received financing in the form of privately placed and secured long-term Islamic certificate (SUKUK) under section 66 of the Companies Act 2017, the company informed the Pakistan Stock Exchange on Thursday.

The raise amounts to Rs. 800 million for a period of six years including two years as grace period, according to the stock filing.

Funds from the Sukuk are being utilized for capital expenditure requirements of new projects being established at Hattar Special Economic Zone, the filing added.

The Company is principally engaged in the manufacturing, sale, and trading of medical & industrial gases and chemicals.

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