CMA approves Al Kathiri Sukuk request for registration, offering of debt-based recourse debt instruments

Logo of Al Kathiri Holding Co.

The Capital Market Authority (CMA) approved, today, Sept. 28, the application of Special Purpose Entity (SPE), Al Kathiri Sukuk, for the registration and public offering of debt-based recourse debt instruments within a SAR 500 million program. The application was submitted by Al Kathiri Holding Co. (Sponsor).

The offering’s prospectus, according to CMA, will be published in sufficient time prior to the start of the subscription.

Prospective qualified investors should conduct their own due diligence on the information disclosed in the registration document, the market regulator said in a statement.

The approval of the application will be valid for six months from the CMA board’s resolution date. The approval will be deemed cancelled if the listing of the debt-based recourse debt instruments is not completed within this period, according to the statement.