Daewoo Express has raised Rs4 billion (approximately US$14.4 million) through its third short-term Sukuk issuance, further highlighting the growing use of Shariah-compliant financing in Pakistan’s corporate and transportation sectors.
Pak Oman Investment Company acted as the mandated joint lead financial advisor, arranger, and investment agent for the transaction. The Sukuk was oversubscribed by 2.24 times, reflecting strong investor interest in Daewoo Express and continued confidence in Pakistan’s capital markets.
This marks Daewoo Express’s third Sukuk issuance in less than a year. The company’s first Sukuk raised Rs2 billion in December 2025, followed by a Rs4 billion issuance in March 2026. The latest Rs4 billion transaction further strengthens the company’s presence in Pakistan’s Islamic capital market.
Founded in 1997, Daewoo Express operates more than 400 buses, 200 cargo trucks, and over 200 delivery centres across Pakistan. The company has also expanded into regulated public-sector mass transit services, including the Lahore Feeder, Multan Metro, Orange Line Lahore, BRT Peshawar, and BRT Karachi.
Pak Oman Investment Company said it remains committed to supporting Shariah-compliant financial solutions that contribute to clean, sustainable, and efficient transportation in Pakistan.
Daewoo Express’s repeated access to the Sukuk market highlights the growing appetite for Islamic financing among Pakistani corporates. The successful and oversubscribed issuance also demonstrates the potential of Sukuk as an alternative funding mechanism for transportation, infrastructure, and other productive sectors of the economy.