ISLAMABAD: Pakistan said on Wednesday it condemned an attack on two Saudi oil pumping stations by bomb-carrying drones on Tuesday, just days after four Saudi tankers were attacked at anchor off the UAE coast.
Saudi Minister of Energy Khalid A. Al-Falih said the attack had caused a fire, which was contained, and minor damage at one pump station, but did not disrupt oil output or exports of crude and petroleum products.
Saudi Aramco later confirmed the attack in a statement, stating that it had “responded to a fire at East West Pipeline Pump station 8 which was caused by a sabotage incident using armed drones which targeted pump stations 8 and 9.”
“Pakistan strongly condemns the drone attacks on oil pumping stations in Eastern Province of Saudi Arabia on Tuesday,” the foreign office said in a statement. “Pakistan expresses its solidarity with Saudi Arabia and reiterates its full support against any threat to stability and security of the Kingdom.”
The statement said Pakistan condemned “terrorism in all its forms and manifestations and reaffirms its commitment for continued efforts and cooperation with the Kingdom of Saudi Arabia and the International community for its elimination.”
Pakistan condemns drone attacks on Saudi oil facilities
Pakistan condemns drone attacks on Saudi oil facilities
- Foreign Office reiterates “full support against any threat to stability and security of the Kingdom”
- Tuesday’s attack on two oil pumping stations by bomb-carrying drones caused a fire, now contained
Pakistan’s first non-life Shariah-compliant takaful operator plans share sale in January
- Pak-Qatar General Takaful Limited plans to raise up to $1.5 million through initial public offering
- Institutional investors will get 75% of shares, while the remaining 25% will go to retail investors
KARACHI: Pakistan’s first dedicated non-life Shariah-compliant takaful operator said on Monday it will launch an initial public offering this month, seeking to raise up to Rs 420 million ($1.5 million) as Islamic finance gains traction in the country’s capital markets.
The company, Pak-Qatar General Takaful Limited, said it would issue 30 million shares, with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75% of the shares on offer, while the remaining 25% will be allocated to retail investors.
“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the initial public offering,” it announced in a statement.
The book-building process for the offering will take place on Jan. 21-22, it added, with investor registration opening on Jan. 16, while public subscriptions are scheduled for Jan. 28-29.
The offering follows the recent listing of Pak-Qatar Family Takaful Limited, which raised Rs 901 million ($3.23 million) last month in Pakistan’s first Islamic insurance sector IPO, an issue that was oversubscribed several times.
Proceeds from the IPO will be used to strengthen the company’s capital base and support investments in technology, infrastructure and branch expansion, said the statement.
Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.
