A gong ceremony was held at the Pakistan Stock Exchange (PSX) to mark the listing of Burj Clean Energy Modaraba (“Burj Modaraba”). Burj Modaraba is the first green energy fund in accordance with Shariah principles to be listed on the Stock Exchange on the Growth Enterprise Market (GEM) Board of PSX. The gong was struck by Mr. Muneer Kamal, Chairman, Burj Modaraba; Mr. Saad Zaman, Sponsor Director, Burj Modaraba; other Director(s) and top management of Burj Modaraba, amidst the presence of Mr. Shahid Ali Habib, CEO of Arif Habib Limited (Advisor to the Issue); Mr. Nadeem Naqvi, Acting CEO of Pakistan Stock Exchange, and senior management of PSX.
The listing of Burj Modaraba marks a pivotal moment for Pakistan’s capital markets and for sustainable energy investments. As Pakistan’s first green energy fund, Burj Modaraba serves as a bridge for clean energy project between developers and investors and fosters the growth of renewable energy initiatives across the country.
Burj Modaraba is supported by esteemed partners and investors such as Meezan Bank Limited, Habib Bank Limited and Arif Habib Corporation Limited, who are committed to promoting the use of renewable energy in Pakistan. AKD Securities serves as the underwriter, with Arif Habib Limited (AHL) as the financial advisor and Usmani & Company Shariah Advisors (Pvt.) Limited as the Shariah advisor.
