Saudi Telecom launches riyal-based Sukuk scheme

May 21, 2014 5:58 pm


The Tadawul All-Share Index in Riyadh gained 0.35 per cent to close at 9,765.82 points on Wednesday, May 21. Saudi Telecom edged up by 0.40 per cent to reach SAR66.25. Earlier in the day, Saudi Telecom announced the establishment of a riyal-denominated Islamic bonds (sukuk) issuance programme, which will be a framework for the issuance of sukuk from time to time for up to a limit of SAR5 billion ($1.35bn) through “local private placement in accordance with the offers of securities regulations issued by the Capital Market Authority,” according to a company statement.

 

Gérard Al-Fil

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