‎“National Building ‎& ‏Marketing” to increase issuing Murabaha ‎sukuk to SR500 million‎

The Board of Directors of the National Construction and Marketing Company decided to increase the size of the program for issuing Murabaha Sukuks denominated in Saudi Riyals from 100 million riyals to 500 million riyals.

It was also approved to amend the type of issuance from a limited private offering to a public offering, provided that the Sukuks will be offered to natural and legal persons who are entitled to subscribe to the Sukuks, whether within the Kingdom of Saudi Arabia or in any jurisdiction where the offering of Sukuks is legal.

According to the company, the basic prospectus for the sukuk to be offered publicly will be announced upon issuance and official approvals will be obtained from the relevant authorities.