Logo of WAJA Co.
WAJA Co. intends to issue SAR-denominated sukuk worth SAR 70 million, in a private placement under its SAR-denominated sukuk program. The issuance is subject to the terms and conditions to be specified in the final offering prospectus.
The company's board of directors approved the SAR-denominated sukuk program today, Oct. 15, at a total value of SAR 70 million. The issue proceeds will be used for the company's public purposes, according to a statement to Tadawul.
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Manafa Capital has been appointed as financial advisor and sole arranger, in order to establish the sukuk program and planned issuance. It shall enable obtaining the Capital Market Authority’s (CMA) approval on the program prior to the sukuk offering.
WAJA stressed the importance of reviewing the issue prospectus carefully before making any decision to invest in the subscription. It noted that this announcement is not an invitation for the purchase, ownership or subscription to any securities.
It will announce any material developments in due course, as per the relevant framework and regulations.
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