Jazz, Pakistan’s premier digital operator, proudly announces the successful completion of its Rs. 15 billion Sukuk, a groundbreaking achievement as the first and largest short-term unsecured Sukuk ever undertaken by a telecom operator in the nation.
This milestone not only secures significant financing for Jazz but also heralds a new era in funding avenues for its ambitious 4G for all digital initiatives, as highlighted in a recent press release from the telecom giant.
Boasting a remarkable 30-year presence in Pakistan and investments exceeding $10.6 billion, Jazz stands as one of the nation’s foremost investors, commanding a substantial 45% revenue market share in the cellular industry and catering to an extensive subscriber base of over 71.5 million. Moreover, with the successful conclusion of this initiative, Jazz’s management expresses sincere appreciation to its esteemed investors for their unwavering confidence in the digital operator’s ability to drive value creation for investors, customers, and society as a whole.
Furthermore, the issuance of this Sukuk is poised to bolster the utilization of Shariah-compliant financial instruments within Pakistan’s capital markets, signaling a positive shift towards greater adherence to Islamic finance principles.
