Savola Group will start offering its first sukuk issuance under the Sukuk Program on Wednesday, 19 June.
Ending on 31 August, the sukuk are offered by way of a private placement, according to a filing to the Saudi Stock Exchange (Tadawul) on Tuesday.
The Saudi-based company noted that the exact value and final terms of the first issuance and the number and value of the Previous Sukuk that may be exchanged and the terms of such exchange will be determined subject to the market conditions and the company’s needs.
The minimal subscription of the offering is SAR 1 million, the statement said.
Moreover, the end of the offering period might be earlier subject to market conditions.
Savola has appointed HSBC Saudi Arabia to manage the offering.