Bidaya Finance Sukuk’s maiden offering completed at SAR 200M

Logo of Impact Capital Co.

Impact Capital Co. (Impact46), acting as joint financial advisor and joint lead manager, together with Merchants Capital, acting as lead financial advisor and joint lead manager, announced the completion of Bidaya Finance Sukuk’s maiden offering.

In a statement to Tadawul, the company said due to subscription demand exceeding the targeted issuance size, 100% of the subscribed sukuk were allocated to institutional investors, while at least 75% of the subscribed sukuk were allocated to individual investors.

It added that subscription agents have been notified to refund the excess amounts to investors who did not receive full allocations, with refunds to be processed after the agents complete their internal procedures.

The company also noted that the sukuk will be listed and traded after all related regulatory procedures are completed.

The company further explained that to obtain all details related to the maiden sukuk issuance by Bidaya Finance, the final terms document should be reviewed.

According to data available with Argaam, Impact46 and Merchants Capital had recently announced the start of the sukuk offering and subscription period for both individual and institutional investors.