Aqaseem to issue SAR-denominated sukuk

Logo of Aqaseem Factory for Chemicals and Plastics Co.

Aqaseem Factory for Chemicals and Plastics Co. plans to issue Saudi riyal-denominated sukuk through an offering on the website of Sukuk Capital Co., which is authorized by the Capital Market Authority (CMA) to offer and invest in debt instruments. The sukuk issuance was approved by Aqaseem board on May 1.

In a statement to Tadawul, Aqaseem said the issuance value will be determined later based on market conditions, adding these sukuk aim to support the company’s operational activities.

The offering does not require the CMA’s approval for the company's request to register and offer sukuk under the program. Sukuk Capital was mandated as the sole arranger for the purpose of issuing and offering these sukuk.

The related prospectus can be viewed on Sukuk Capital website, which will be announced later.

This announcement does not constitute an invitation or offer to buy, own or subscribe to any securities. The company will announce any other material developments in a timely manner according to the relevant laws and regulations.