AICTEC Completes SAR 6 Mln Sukuk Issuance via Dinar Platform

Advance International Company for Communication and Information Technology (AICTEC) announced on Tuesday the successful completion of its SAR 6 million Murabaha sukuk issuance.

The offering, conducted through the Dinar Investment Co. platform, involved 6,000 sukuk with a nominal value of SAR 1,000 each. AICTEC stated the proceeds will be used to support working capital and fund future capital expansion.

The Capital Market Authority had previously approved the company’s request to register and offer the sukuk under its issuance program.