iOud plans to issue SAR-denominated domestic sukuk

Accordingly, the company appointed a financial advisor licensed by the Capital Market Authority (CMA) for the issue and public offering.

The value and terms of the offering will be determined later based on market conditions.

The offering aims to build on the company’s growth successes and support the execution of its strategy by expanding its core operations and seizing growth opportunities in its retail and hospitality sectors, thereby strengthening its financial and competitive position and initiating international expansions.

The offering is subject to the approval of the relevant official authorities and will be conducted in accordance with applicable laws and regulations, the statement added, clarifying that this announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities.

Any other material developments in this regard will be announced in due course, the Saudi-listed firm noted.