Aqaseem to issue SAR-denominated sukuk on April 27

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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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.