Logo of Intelligent Oud Company for Trading (iOud)
Intelligent Oud Company for Trading (iOud) board of directors decided on Nov. 22 to issue SAR-denominated sukuk.
The SAR 30 million sukuk program will be offered over multiple tranches, with values determined later based on market conditions, according to a Tadawul statement.
The offering, which aims to support operational activities and international expansions, does not require the Capital Market Authority’s (CMA) approval for the company's request to register and offer sukuk under the program.
The CMA designated Afaq Capital as the sole arranger for the purpose of issuing and offering these sukuk, the statement added.
The related prospectus will be announced later on Afaq Capital’s website, iOud said, underscoring the need for careful and complete reading prior to making Sukuk subscription investment decisions.
This announcement does not constitute an invitation or offer to buy, own, or subscribe to any securities.
Any relevant material developments will be announced in due course based on the relevant rules and regulations, iOud added.
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