Fawaz Abdulaziz AlHokair gains on sukuk plans
In Riyadh, the Tadawul All-Share Index advanced by 0.10 per cent to hit 9,830.19points on Tuesday, May 27. Market breadth was negative, as 67 shares advanced, while 74 declined in value.
Fawaz Abdulaziz AlHokair Company added 0.28 per cent, finishing at SAR193.75. Earlier in the day, the wholesale retailer of fashion revealed that it will issue an Islamic bond (sukuk) and has begun meeting with interested investors. “This sukuk issuance is a first for the company and will be a debut private offering, denominated in Saudi riyals, to sophisticated investors residing in Saudi Arabia. Fawaz Abdulaziz AlHokairhas appointed Samba Capital and Investment Management Company to act as lead manager and bookrunner of the offering.”