‎“Developmental Food”: Murabaha sukuk denominated in riyals ‎to be issued on Sunday ‎

The Development Works Food Company announced the start of issuing Murabaha sukuk denominated in Saudi riyals, starting from 29-01-2023 until 2023-02-18, and the total value of the offering for the first group of issues has been determined at 5 million riyals.

According to the statement published on “Tadawul”, the sukuk will be offered to natural and legal persons who are entitled to subscribe to sukuk within the Kingdom of Saudi Arabia, noting that the minimum subscription is one sukuk, with a nominal value of 1,000 riyals, and a price of 1,000 riyals.

It explained that the sukuk return on an annual basis is within three months (11.72%), six months (11.76%), nine months (11.86%), and twelve months (11.90%), and the maturity period of the sukuk varies according to the issuance periods starting from three months and up to one Gregorian year, and she added that sukuk may be redeemed in certain cases

The Food Development Business Company has appointed Dinar Investment Company as the sole arrangement manager.

This comes as a reference to the company’s announcement on 01/09/2023 AD, regarding its intention to issue sukuk and offer them through the Dinar Investment Company platform (www.dinar.sa).