Lahore, April 8, 2025 – In a strategic move to enhance liquidity and support its operational needs, At-Tahur Limited, a leading name in Pakistan’s dairy sector, has announced plans to raise up to Rs750 million through a privately placed Islamic Sukuk, according to a filing with the Pakistan Stock Exchange (PSX) on Tuesday.
This Sukuk issuance is a cornerstone of At-Tahur’s broader strategy to optimize its capital structure, improve liquidity, and ensure smooth operations across its vertically integrated dairy value chain.
The short tenor and secured nature of the Sukuk align with the company’s immediate financial needs while keeping long-term obligations manageable.
Key Sukuk Features:
-
Purpose: Financing of working capital requirements
-
Tenor: 9 months
-
Pricing: 9-month KIBOR + 150 basis points
-
Profit Payment: Single payment in arrears at end of tenor
-
Principal Repayment: Single bullet payment at maturity
-
Security: Secured by a ranking charge over current and biological assets
-
Rating: A1 (short-term) and A- (long-term) by accredited rating agencies
-
Green Shoe Option: Provision to raise an additional Rs150 million, if needed
Company Background
Established in March 2007, At-Tahur Limited is a public limited company engaged in dairy farming and processing of milk and related products.
It is known for its flagship brand, Prema, and has steadily expanded its footprint in the premium dairy segment.
The issuance signals growing confidence in Shariah-compliant financing instruments and highlights the increasing role of Islamic capital markets in addressing corporate funding needs in Pakistan’s evolving financial landscape.
The Sukuk is expected to attract strong interest from institutional investors seeking secure, short-term, Shariah-compliant instruments in a competitive interest rate environment.
