Al Kathiri Holding Company announced the start of the issuance of the first series of sukuk denominated in Saudi riyals, and the subscription period for institutions and individuals will be on March 12, 2023.
The company said in a statement on “Tadawul Saudi Arabia”, today, Wednesday, that the end of the offering is on March 23, 2023, and the value of the issue is 100 million riyals.
She added that the sukuk will be offered to natural and legal persons who are entitled to subscribe to the sukuk, whether inside the Kingdom of Saudi Arabia or in any jurisdiction where the issuance of sukuk is legal.
She explained that the minimum subscription is 5 sukuk, with a nominal value of 5,000 riyals, and the offering price of the “sukuk / bond” is 1,000 riyals per sukuk, and the maturity period is 5 years from the date of settlement of the sukuk.
She indicated that the return will be determined and announced no later than March 9, 2023, and the sukuk will be redeemed at the end of the sukuk term of the first issuance series.