CMA OKs Raya Financing’s request to register, offer SAR 500M debt instruments

Logo of Capital Market Authority (CMA)

The Capital Market Authority’s (CMA) board approved today, Dec. 30, Raya Financing Co.’s request to register and publicly offer debt instruments under an issuance worth up to SAR 500 million.

The prospectus will be published well ahead of the subscription start date.

According to the CMA, the prospectus provides investors with the offering’s key highlights, including the issuer’s financial statements, details of its operations and management, and comprehensive information on the issuance.

The authority warned against investing without reviewing the offering’s prospectus. Investors are urged to study it carefully to assess the viability of the investment and, if needed, consult a licensed financial advisor.

The CMA emphasized that its approval does not represent an endorsement of the offering’s investment merits or the issuer’s debt instruments. It rather affirms compliance with regulatory requirements under the Capital Market Law and its implementing regulations.

The approval is valid for six months from the date of the board resolution. It will lapse if the first tranche of the debt issuance is not completed within this period.