LONDON: Prime Minister Shehbaz Sharif on Tuesday became the first Pakistani prime minister to open a trading session at the London Stock Exchange (LSE), where he formally inaugurated Pakistan’s $3 billion dual-tranche sovereign Eurobond.
Addressing the market-opening ceremony at the LSE headquarters in Paternoster Square, Shehbaz highlighted Pakistan’s potential to attract international investment and said the government had taken measures to strengthen the country’s economic indicators.
The ceremony was attended by LSE Group CEO David Schwimmer, Finance Minister Muhammad Aurangzeb, Advisor on Privatisation Mohammad Ali, Pakistan High Commissioner Tipu Usman and other members of the Pakistani and British delegations.
Shehbaz said the government had undertaken structural reforms, expanded economic digitisation and pursued privatisation as part of efforts to strengthen the economy.
He cited the privatisation of Pakistan International Airlines and First Women Bank and said the government planned to transfer additional state-owned enterprises to the private sector.
$3bn bond attracts nearly $6bn in global investor demand
Pakistan’s latest Eurobond issuance attracted nearly $6 billion in orders from international investors, almost twice the amount raised, according to the government.
The $3 billion transaction is Pakistan’s largest-ever international bond issuance and comprises two tranches.
The issuance is the first under Pakistan’s renewed Global Medium-Term Note Programme, following the country’s inaugural Panda Bond and subsequent sovereign credit-rating upgrades.
The government said the transaction forms part of its broader debt-management strategy aimed at diversifying funding sources, extending maturities and reducing refinancing risks.
During his address, Shehbaz also invited the LSE chief executive to visit Pakistan and called for greater engagement between Pakistan and international financial markets.
He said Pakistan sought to attract investment beyond sovereign debt, including through private-sector opportunities and broader economic cooperation with the United Kingdom.