Al Kathiri to issue first series of SAR-denominated sukuk at SAR 100 mln on March 12

Logo of Al Kathiri Holding Co.

Al Kathiri Holding Co. will issue the first series of SAR-denominated sukuk for individual and institutional investors on March 12.

In a filing to Tadawul, the company said the offering value was set at SAR 100 million.

Institutional investors seeking to purchase the sukuk should submit a duly completed form to the relevant lead manager, the company said. 

It added that retail investors should submit a duly completed form to the receiving agents through the internet, phone banking, or the ATMs of the receiving agents. 

The offering value was set at SAR 100 million, Argaam earlier reported.  

The purchase of sukuk is subject to satisfying the terms and conditions set out in the investor application form and the base prospectus dated Sept. 28, 2022. 

In September 2022, the Capital Market Authority (CMA) approved the application of Special Purpose Entity (SPE), Sukuk Al Kathiri, for the registration and public offering of debt-based recourse debt instruments within a SAR 500 million program. 

The proceeds will be used to fulfill the company’s financial and strategic goals.