Al Kathiri plans to issue first series of Sukuk and the public offering

The Company announced on Thursday its intent to issue the first Series of Sukuk (the SUKUK) and the public offering thereof pursuant to the programme. This comes for the general corporate purposes of the Company to meet its strategic objectives, as detailed in the base prospectus prepared for the Programme. And the company has mandated AlKhair Capital Saudi Arabia as the financial advisor and sole arranger for the purposes of establishing the Programme and the issuance and offering of the SUKUK.

The issuance amount will be determined at a later stage based on market conditions at the time.

This comes with reference to the Capital Market Authority’ approval of the application of the Special Purposes Entity Sukuk ALkathiri (the SPE), established under license No. (SPE00034) dated 12/05/1443H corresponding to 2021/12/16 by ALkathiri Holding Company (the Sponsor or Company), to register and offer debt-based debt instruments of up to SAR (500,000,000) in an aggregate nominal amount of Sukuk (the “Programme”) in series of separate issuance (each a Series).