AI Summary
Logo of Aqaseem Factory for Chemicals and Plastics Co.
Aqaseem Factory for Chemicals and Plastics Co. issued today, April 16, the prospectus for the issuance of sukuk worth SAR 500 million.
The company will use the net proceeds from each tranche of its sukuk program accordingly. The first SAR 50 million tranche will cover capital and operating expenses, support new business activities, and fund acquisitions aligned with its expansion strategy and business model.
Last January, the Capital Market Authority (CMA) approved the company's application for the registration and public offering of debt instruments under the program.
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Details of Sukuk Issue |
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Issuer |
Aqaseem Factory for Chemicals and Plastics Co. |
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Market Value |
SAR 500 mln |
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Target Participants |
Qualified persons |
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Maximum Sukuk Per Subscriber |
500,000 |
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Maximum Subscription Value |
The maximum value shall not exceed the aggregate nominal amount of all sukuk offered for subscription |
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Minimum Sukuk Per Subscriber |
5 Sukuk |
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Minimum Subscription Value |
SAR 5,000 |
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Offer Period |
The period of each tranche will be specified in the applicable final terms |
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Expiry Date |
The maturity date of each issuance series will be specified in the applicable final terms issued under each respective issue |
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Currency |
Saudi Riyal |
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Financial Advisor & Sole Arranger |
Al Khair Capital |
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Receiving Entities |
Derayah Financial, Riyad Capital, SNB Capital, ANB Capital, Saudi Fransi Capital, Al Rajhi Capital, Albilad Capital, AlJazira Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Alinma Investment, Alistithmar Capital, Sukuk Capital. |
The company launched a SAR-denominated sukuk program in May 2024 to support general corporate purposes and meet its financial and strategic goals, according to Argaam’s data.
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