Logo of Aqaseem Factory for Chemicals and Plastics Co.
Aqaseem Factory for Chemicals and Plastics Co. will issue SAR-denominated sukuk in a public placement, the company said in a statement on Tadawul.
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Details |
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Issuance Type |
SAR-denominated Series 1 sukuk, offered to the public |
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Market Value |
Initially set at SAR 50 million; final value to be determined after the end of the offering based on market conditions |
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Offering Period |
April 27 to May 8, 2025. |
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Target Participants |
Natural and legal persons entitled to subscribe to sukuk, within Saudi Arabia or any jurisdiction where the sukuk offering is lawful |
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Lead Manager and Initial Dealer |
AlKhair Capital Saudi Arabia |
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Minimum Sukuk Per Subscriber |
Five sukuk with a total nominal value SAR 5,000 |
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Offering Price |
SAR 1,000 per certificate |
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Par Value |
SAR 1,000 per certificate |
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Return |
To be announced no later than April 24, 2025 |
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Maturity |
Five years from the settlement date |
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Redemption Terms |
- Full redemption at the end of Series 1 term - At maturity, the sukuk will be redeemed at 100% of the total par value of the series |
The company said that it will treat the sukuk as capital. As a result, the nominal value will be included in its Zakat base to pay the required Zakat.
The sukuk will be listed and traded on the Saudi Exchange (Tadawul). They were assigned a 'BBB-' credit rating, with a stable outlook by a financial analysis firm.
The sukuk are primary, non-subordinated, unconditional, or guaranteed. Periodic profit distributions are fixed, semiannual, actual/360.
Investors must submit a correctly completed subscription form to the receiving entities or through available channels.
Receiving entities are SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Albilad Investment, AlJazira Capital, Alistithmar Capital, Derayah Financial, ANB Capital, Alinma Investment, SAB Invest, Yaqeen Capital, Alkhabeer Capital, and Sukuk Capital.
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