Arabian Centres plans to issue dollar-denominated Shariah-compliant sukuk

Logo of Arabian Centres

Arabian Centres Co. said in a bourse statement that it intends to issue dollar-denominated Shariah-compliant sukuk.

The number and value of any sukuk to be offered will be determined based on market conditions and the company’s financial condition, funding requirement and strategy.

The offering, which has general corporate purposes, is aimed at fulfilling the company’s financial and strategic objectives.

The sukuk offering will be subject to the approval of the relevant regulatory authorities and will be made in accordance with all applicable laws and regulations, the statement added.

Any sukuk offering will be limited to qualified investors in the jurisdictions, in which it will be made in accordance with the rules and regulations of such jurisdictions.

Arabian Centres will announce any other relevant material developments to its shareholders in due course.