Waja plans SAR 10M sukuk issuance to support capital expansion

The company said that the purpose of the sukuk issuance is to support its capital expansions

WAJA Co. intends to issue SAR-denominated sukuk worth SAR 10 million, in a private placement under its SAR-denominated sukuk program. The issuance is in accordance with the terms and conditions to be set out in the issuance prospectus.

In a statement to Tadawul, the company said that the purpose of the sukuk issuance is to support its capital expansions.

The company has also appointed Sukuk Financial Co. as the sole arranger for the purposes of establishing the potential program and issuing and offering the sukuk thereunder.

WAJA further indicated that, through the arranger, it will obtain the necessary approvals from the Capital Market Authority (CMA) prior to offering the sukuk under the program.

According to data available with Argaam, WAJA has announced recently withdrawing its request to transfer from the Nomu-Parallel Market to the Main Market (TASI), citing the need to complete certain requirements related to the transition.