Molan Steel eyes SAR-denominated sukuk worth SAR 20M

09/03/2025 Argaam

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Logo of Molan Steel Co.

Logo of Molan Steel Co.

The Nomu-listed Molan Steel Co. plans to issue sukuk denominated in Saudi riyal at a value of SAR 20 million, according to a statement to Tadawul.

 

The company appointed Afaq Capital as the sole arranger for the issuance and offering of the sukuk on its platform.

 

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The sukuk issue aims to finance the company’s investment and operational needs.

 

The company will obtain through the arranger the necessary approvals from the Capital Market Authority prior to the issuance of the sukuk.

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