Aqaseem completes Series One sukuk issuance worth 50M

Logo of Aqaseem Factory for Chemicals and Plastics Co.

Aqaseem Factory for Chemicals and Plastics Co. completed Series One of its SAR-denominated sukuk issuance, worth SAR 50 million.

In a statement to Tadawul, the company said that 6,600 investors subscribed to 108.336 certificates, with a coverage ratio of 216.7%.

The allocation of the sukuk to investors will complete by May 15, and the settlement will take place on May 20.

Refund of the excess subscription funds to the eligible investors will be deposited in the accounts of the eligible investors, in accordance with the procedures adopted by the relevant entities, no later than May 20.

After the completion of all regulatory procedures, the sukuk will be listed and trading on the Saudi Exchange (Tadawul) will commence.

The company noted that this announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk. The company will announce any other relevant material developments in due course as required by the relevant rules and regulations.