Al Kathiri Holding Company announced its intention to issue a program of local Sharia-compliant sukuk in Saudi riyals, with a value of 500 million riyals.
The company said in a statement to the Saudi market (Tadawul), today, Tuesday, that the purpose of the offering is due to the company's general commercial purposes and to meet its financial and strategic goals.
The company clarified that the offering is subject to the approval of the relevant official authorities, and the offering will take place in accordance with the relevant laws and regulations.
It noted that the Board of Directors approved the appointment of Al-Khair Capital as an advisor for the process of issuing and offering the sukuk (public offering).
The company continued: This announcement does not constitute an invitation or an offer to buy, own or subscribe in any securities, and the company will announce to its shareholders any other material developments at the time, Also, any sukuk offering will be limited to qualified investors in the countries where the offering will take place, in accordance with the rules and regulations of those countries.
