Latest news with #PACRA
Business Recorder
23-07-2025
- Business
- Business Recorder
PQAMC achieves strong performance with 117pc AUM growth
KARACHI: Pak-Qatar Asset Management Company Limited (PQAMC)-rated AM2 with a Stable Outlook by PACRA and part of Pak-Qatar Group, Pakistan's premier and pioneer Islamic financial services group, has achieved another remarkable milestone in its growth journey with an impressive 117 percent YoY growth in its Assets Under Management (AUM) for FY2025. This milestone reinforces PQAMC's standing as one of the fastest-growing dedicated Islamic asset management companies in the country. The robust growth trajectory reflects the company's continued emphasis on delivering Shariah-compliant investment solutions, underpinned by strong governance practices, a disciplined investment philosophy, and a commitment to ethical wealth creation. PQAMC's expansion has been fuelled by the consistent performance of its diversified fund offerings, growing investor confidence, and a steadily expanding client base comprising both individual and institutional investors. Over the past couple of years, the company has significantly strengthened its market presence by offering value-driven financial products aligned with Islamic investment principles. Commenting on the achievement, Chief Executive Officer of Pak-Qatar Asset Management Company Farhan Shaukat said: 'We are humbled by the trust placed in us by our investors, which has enabled us to achieve this tremendous growth. This success is a testament to our unwavering focus on delivering sustainable and Shariah-compliant investment avenues that meet the evolving financial aspirations of our clients. At PQAMC, we are dedicated to being a trusted partner in Islamic asset management.' Copyright Business Recorder, 2025
Business Recorder
01-07-2025
- Business
- Business Recorder
PACRA makes debut on PSX GEM Board with oversubscribed IPO
KARACHI: In a landmark development for Pakistan's capital market, the Pakistan Credit Rating Agency Limited (PACRA) officially listed on the Pakistan Stock Exchange's (PSX) Growth Enterprise Market (GEM) Board on Monday. The occasion was marked by a gong ceremony held in Lahore, a move reflecting the Exchange's strategy to engage regional business communities by hosting listing events in the cities where companies are based. The ceremony was attended by senior officials from PSX, the Securities and Exchange Commission of Pakistan (SECP), PACRA, transaction advisors LSE Capital Limited, IEL, and other dignitaries. Welcoming guests, PSX Chief Executive Officer Farrukh H Sabzwari underscored the Exchange's efforts to broaden capital market access for businesses across the country. 'I'm here today not just to mark PACRA's important milestone, but to reinforce our commitment to expanding listing awareness at the grassroots level and to continue the practice of hosting listing ceremonies in the regions where companies operate,' he remarked. Sabzwari further highlighted the resounding success of PACRA's Initial Public Offering (IPO), which raised PKR 396.239 million, surpassing its target and receiving subscriptions exceeding four times the offered shares. He noted that the overwhelming investor response reflected growing confidence in both the capital market's evolving ecosystem and PACRA's standing as a trusted ratings institution. 'This success speaks volumes about the credibility of the PSX platform and the trust investors place in companies accessing capital through it,' Sabzwari added. He also announced that PSX plans to hold an IPO roundtable in Peshawar as part of its broader effort to promote listings among regional businesses and SMEs. PACRA's listing marks the seventh addition to the PSX GEM Board, which was established as a dedicated platform for small and medium enterprises (SMEs) and growth-stage companies, offering a cost-effective and streamlined route for raising capital from the market. Expressing pride on the occasion, PACRA CEO Usman Haider called the listing a defining moment in the company's three-decade history. 'For almost 30 years, PACRA has been a trusted partner in Pakistan's capital markets, providing independent credit ratings and insights that foster transparency, investor confidence, and informed decision-making,' Haider stated. He added that becoming a listed company will introduce a new chapter of greater accountability, wider stakeholder engagement, and an even higher commitment to excellence. Tariq Jamil, Chairman of PACRA, echoed the sentiment, describing the GEM Board as a forward-looking initiative vital for growth-oriented institutions. 'We sincerely appreciate the efforts of PSX and SECP in facilitating institutions of our size and ambition, providing them with access to capital markets and the tools to fuel expansion,' Jamil remarked. The IPO's oversubscription by over four times was seen as a significant endorsement of PACRA's credibility and market reputation. Usman Haider extended special gratitude to the PACRA team, Board of Directors, Rating Committee members, and regulatory authorities for their support. 'This milestone is a testament to the commitment, professionalism, and vision of everyone associated with PACRA.' He also acknowledged the critical role of the SECP and the State Bank of Pakistan in shaping the country's credit rating industry through their regulatory oversight. 'We are sincerely grateful for their wisdom and foresight in guiding the sector's evolution,' Haider added. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
PACRA's shares trading to commence from Monday
LAHORE: The gong ceremony for marking the listing of Pakistan Credit Rating Agency (PACRA) will be held on the Growth Enterprise Market (GEM) Board of PSX, here at Pakistan Stock Exchange Regional Office on Monday (June 30). According to PSX sources, trading in PACRA's shares will commence on June 30 and will follow the T+2 settlement cycle, with the first settlement scheduled for Wednesday, July 2, 2025. The market lot for trading has been set at one share of Rs1 each, as per the notice issued by PSX. It may be added that the PACRA's shares have already been declared eligible securities by the Central Depository Company of Pakistan Limited (CDC), and all transactions will be cleared through the National Clearing Company of Pakistan Limited (NCCPL). The NCCPL has assigned the company code 'GEMPACRA' for trading purposes. Moreover, the opening price of the shares has been fixed at PKR 15.05 per share, as determined through the Book Building process. CDC Share Registrar Services Limited has been appointed as the share registrar for the company. The PACRA will be listed under the 'Miscellaneous' sector in the Daily Quotation of the Exchange. Copyright Business Recorder, 2025
Business Recorder
28-04-2025
- Business
- Business Recorder
Lucky Investments awarded AM2 Asset Manager Rating by PACRA
KARACHI: Lucky Investments Limited (Lucky Investments) has been awarded an initial Asset Manager Rating of 'AM2' with a Positive Outlook by The Pakistan Credit Rating Agency Limited (PACRA). This significant milestone marks a strong start for the newly established Islamic asset management company, which aims to become the preferred choice for Shariah-compliant investment solutions in Pakistan, driven by a vision of sustainable growth, integrity, and innovation. Commenting on this achievement, Mohammad Shoaib, CFA, CEO of Lucky Investments, has said that this rating is a testament to our strong sponsor support, robust governance, and professional management. 'We remain committed to continuously raising our standards and deeply appreciate the trust and confidence our stakeholders and investors have placed in us, he added. According to company, the AM2 rating reflects the solid foundation laid by the Company's sponsors, underpinned by a substantial capital injection and a sound governance framework. The direct involvement of sponsors on the Board and key Committees reinforces stakeholder confidence and supports strategic oversight. PACRA's rating also acknowledges the depth and expertise of Lucky Investments' management team, which is widely recognized in the market for its proven track record. The Company's leadership is focused on building a resilient institutional framework that will underpin long-term performance and value creation. The Positive Outlook assigned to the rating highlights the forward-looking initiatives already underway, with further upside potential as these efforts bear fruit. The management's approach reflects a strong commitment to professionalism, adherence to industry best practices, and a drive for innovation within the Islamic finance space. Copyright Business Recorder, 2025
