Logo of Development Works Food Co.
Development Works Food Co. completed the issuance and subscription of SAR-denominated Murabaha sukuk.
The offered sukuk amounted to 5,000, with a total value of SAR 5 million, the company said in a statement on Tadawul.
In January, the company announced the start of SAR-denominated Murabaha sukuk issue via Dinar Investment platform and disclosed institutional and retail subscription periods, Argaam earlier reported.
Below are the details of the offering:
|
Sukuk Issue Details |
|
|
Offering type |
SAR-denominated Murabaha sukuk |
|
Offering value |
Tier 1 sukuk are valued at a SAR 5 million with the final value to be determined after the completion of the offering period and based on the market conditions |
|
Start date |
Jan. 29, 2023 |
|
End date |
Feb. 18, 2023 |
|
Target investors |
Natural and legal persons who are entitled to subscribe to the sukuk in the Kingdom. |
|
Minimum subscription limit |
One instrument at a nominal value of SAR 1,000 |
|
Offering price |
SAR 1,000 per instrument |
|
Nominal value |
SAR 1,000 per instrument |
|
Instrument yield |
The sukuk will offer a yield rate on an annual basis at 11.72% for three months, 11.76% for six months, 11.86% for nine months or 11.90% for one year. |
|
Maturity period |
Varies according to the issue periods, starting from three months to one year |
|
Terms of redemption |
Development Works Food may redeem sukuk in certain cases, as detailed in the sukuk issue prospectus, dated Jan. 26, 2023. |
|
Offering manager |
Dinar Investment Co. as the sole lead manager |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}