Logo of Development Works Food Co. (DWF)
Development Works Food Co. announced its intention to issue SAR-denominated Murabaha Sukuk to finance its working capital and capital expansions.
In a statement to Tadawul, the company added that it plans to issue the Sukuk via Dinar Investment platform, indicating that the issue value will be determined later based on the market conditions.
The company appointed Dinar Investment as the sole lead manager to arrange the Sukuk program.
It will announce any other substantial developments in due course as per the relevant rules and regulations.
The offering is subject to the approval of the Capital Market Authority (CMA). The firm obtained today, Jan. 9, Dinar Investment's approval to issue Sukuk via the latter's platform.
The company published its Sukuk issue prospectus, which can be viewed via the lead manager's website: (https://www.dinar.sa).
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