Thatta Cement Company Limited (PSX: THCCL) has approved the issuance of a Rs. 5.5 billion Sukuk to fund the expansion of its production capacity or acquire an already operational company.
The company announced the decision in a notice to the Pakistan Stock Exchange (PSX) on Monday, stating that its Board of Directors finalized the move after reviewing multiple financing options. The Sukuk will include a green shoe option of Rs. 500 million.
A green shoe option allows underwriters in an IPO to issue up to 15% more shares than initially planned if investor demand is strong.
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THCCL said the raised capital, along with its internal resources, will be utilized either to expand current operations or pursue acquisition opportunities.
“With this step, the company seeks to accelerate growth, diversify revenue streams, and strengthen its market position. The investments are expected to deliver sustainable returns, boost long-term profitability, and enhance shareholder value,” the statement added.
