Al Kathiri Holding to issue SAR 500 mln SAR-denominated sukuk

Logo of Al Kathiri Holding

Al Kathiri Holding Co. is set to issue Shariah-compliant, Saudi riyal-denominated sukuk of SAR 500 million, the company said in a bourse filing.   

The sukuk issue will be used for general corporate purposes, and to fulfill the company’s financial as well as strategic objectives.  

It will be limited to qualified investors in the countries, in which the public offering will take place, in accordance with the rules and regulations applicable in those countries. 

The sukuk issue is subject to the approval of the competent authorities and will be offered in compliance with the relevant laws and regulations. 

The board of directors appointed Alkhair Capital to advise on the planned sukuk offer.  

The company stated that the announcement does not constitute an invitation or an offer to buy, own or subscribe to any financial securities. 

Any material developments will be announced in due course, the statement said.