WAJA plans SAR 10M sukuk offering

Logo of WAJA Co.

WAJA Co. said it plans to issue SAR-denominated sukuk with a total value of SAR 10 million under a sukuk issuance program.

In a statement to Tadawul, the Nomu-listed company said the sukuk will be offered through a private placement in line with terms to be set out in the issuance prospectus.

WAJA added it had appointed Sukuk Capital as sole arranger for establishing the program and for the issuance and offering of the sukuk.

The proceeds will be used to support capital expansion, noting that the arranger will seek the required approvals from the Capital Market Authority (CMA) before the offering.

The sukuk prospectus will be published on Sukuk Capital website later, WAJA said, urging investors to review it carefully before making any investment decision.

The announcement does not constitute an offer or invitation to subscribe to any securities.

WAJA said it would disclose any material developments in due course in line with relevant regulations.