‎“IOud” to issue sukuks denominated in Saudi riyals

Intelligent Oud Company for Trading announced its intention to issue debt instruments “Sukuk” denominated in Saudi Riyals, by appointing Afaq Financial Company, which is licensed by the Capital Market Authority, as the sole arrangement manager for the purposes of establishing the program and issuing and offering Sukuks pursuant to it.

According to the statement published on Tadawul, the value of the program was set at 30 million riyals, and it will be offered in several issues whose values will be determined at a later time based on market conditions.

The company aims through the offering to support its operational activities and international expansion.