SIDC subsidiary plans to issue SAR 10M sukuk

Logo of Saudi Industrial Development Co. (SIDC)

Saudi Industrial Development Co. (SIDC) announced that its subsidiary, Global Marketing Co. for Sleeping System (Sleep High), intends to issue SAR 10 million worth of Murabaha sukuk.

In a statement to Tadawul, the company said the sukuk will be offered through Sukuk Capital's website. Sukuk Capital is authorized by the Capital Market Authority (CMA) to issue and invest in debt instruments.

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The company emphasized that the issuance will comply with all relevant regulations and guidelines. SIDC appointed Sukuk Capital to manage the sukuk issuance process and to present them to investors.

SIDC appointed Sukuk Capital to manage the sukuk issuance process and present it to investors.

The prospectus for the sukuk can be reviewed on Sukuk Capital's website, SIDC said.

The announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities.

SIDC will disclose any significant developments in due course, the statement added.