Al-Jouf Mineral Water plans SAR-denominated sukuk program

Logo of Al-Jouf Mineral Water Bottling Co.

Al-Jouf Mineral Water Bottling Co.’s board of directors announced today, Jan. 17, intention for an Ijara SAR-denominated sukuk issuance as part of the Ijara sukuk program.

The company appointed Sukuk Capital as the sole arranging manager, for the purposes of creating, issuing and offering sukuk, Al-Jouf Mineral Water said in a statement on Tadawul.

The issuance of sukuk is conditional on the Capital Market Authority’s (CMA) approval of the company’s request to register and offer sukuk under the program.

The offering value will be determined at a later date based on market conditions at the time, the statement added. The issuance is poised to support Al-Jouf Mineral Water’s capital expansions.

The prospectus for the sukuk offering can be viewed on Sukuk Capital’s website, which will be announced at a later time, the company noted, stressing the importance of reading the prospectus carefully and completely before making any investment decision related to subscribing to sukuk.

The Saudi-listed firm also indicated that this announcement does not constitute an invitation or offer to buy, own or subscribe for any securities. Any other material developments will be disclosed in a timely manner in accordance with the relevant laws and regulations.