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Suspension of Trading in Mughal Iron & Steel Industries Limited Sukuk [MUGHALSC]
In a recent update from the Pakistan Stock Exchange (PSX), trading in the Sukuk of Mughal Iron & Steel Industries Limited, identified by the symbol [MUGHALSC], will be suspended due to the company’s book closure dates.
Key Dates and Suspension Details
Mughal Iron & Steel Industries Limited has announced that the book closure for their Sukuk will occur from August 27, 2024, to September 02, 2024. This period is designated for the 14th rental and 10th principal payment of their Sukuk. Consequently, trading in the Sukuk [MUGHALSC] will be suspended from August 26, 2024, and will remain halted until September 02, 2024. Trading is expected to resume on September 03, 2024.
Impact on Investors
During the suspension period, investors will not be able to trade in the Sukuk. It is essential for stakeholders to be aware of these dates to manage their investments accordingly. The suspension is a routine procedure related to the payment of rental and principal amounts, ensuring that all transactions are accurately recorded and processed.
Resumption of Trading
Once the book closure period concludes, trading in [MUGHALSC] will resume on September 03, 2024. Investors should prepare for this resumption to reintegrate their trading strategies and portfolio adjustments.
Conclusion
The temporary suspension of trading in Mughal Iron & Steel Industries Limited’s Sukuk [MUGHALSC] reflects standard operational procedures related to financial management and payment processes. Keeping track of these dates will help investors navigate their investments effectively and avoid any disruptions.
