Logo ofRawasi Albina Investment Co.
Rawasi Albina Investment Co. announced the offering period of the sukuk and the retail and institutional subscription period dated Feb. 16, 2025. 
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In a statement toTadawul, the company said that the issuance value has been determined on an initial basis at SAR 50 million. The definitive issuance value will be determined after the completion of the offer period, based on market conditions at that time.
Details
Issue Type
Series 1 of the sukuk issuance program denominated in SARthat will be publicly offered
Issue Value
Initially SAR 50 million. The definitive issuance value will be determined after the completion of the offer period, based on market conditions at that time.
Start Date
Feb. 16, 2025
Expiry Date
Feb. 27, 2025
Target Participants
Eligible natural and legal persons in the Kingdom and any other relevant jurisdiction where the sukuk may be lawfully offered.
Issue Manager
The company appointed Alkhair Capital Saudi Arabia as the sole arranger and dealer in relation to the offering and issuance of the sukuk.
Subscription Minimum Limit
Five sukuk with a nominal value of SAR 5,000. For further details, please refer to the base prospectus prepared in relation to the sukuk
Offer Price
SAR 1,000/sak
Par Value
SAR 1,000/sak
Return
10.25% per annum payable semi-annually in arrears on each distribution date
Maturity
5 years
Redemption Terms
At Maturity Date, subject to any purchase and cancellation or early redemption, the sukuk will be redeemed at 100% of the aggregate nominal amount of the series, and the issuer call option on any periodic distribution date starting from the 3rd anniversary.
The sukuk instrument status is senior/unsubordinated, unsecured with a credit rating of “BBB” (Stable Outlook) by rating financial analytics, the statement added.
Regarding Zakat treatment, the company noted it will treat the sukuk as capital/equity for Zakat purposes throughout the period in which the sukuk are outstanding and pay the required Zakat on the sukuk.
Investors seeking to purchase the Sukuk will be required to submit a duly completed form to the dealer or receiving entities through the available channels.
The receiving entities are SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Al Bilad Investment, AlJazira Capital, Alistithmar for Financial Securities and Brokerage, Derayah Financial, ANB Capital, Alinma Investment, Alawwal Invest, Yaqeen Capital, Al Khabeer Capital, and Sukuk Capital.
The purchase of the sukuk by investors is subject to satisfying the terms and conditions set out in the investor application form and the base prospectus.
Logo ofRawasi Albina Investment Co.
Rawasi Albina Investment Co. announced the offering period of the sukuk and the retail and institutional subscription period dated Feb. 16, 2025.
For more news on listed companies
In a statement toTadawul, the company said that the issuance value has been determined on an initial basis at SAR 50 million. The definitive issuance value will be determined after the completion of the offer period, based on market conditions at that time.
Details
Issue Type
Series 1 of the sukuk issuance program denominated in SARthat will be publicly offered
Issue Value
Initially SAR 50 million. The definitive issuance value will be determined after the completion of the offer period, based on market conditions at that time.
Start Date
Feb. 16, 2025
Expiry Date
Feb. 27, 2025
Target Participants
Eligible natural and legal persons in the Kingdom and any other relevant jurisdiction where the sukuk may be lawfully offered.
Issue Manager
The company appointed Alkhair Capital Saudi Arabia as the sole arranger and dealer in relation to the offering and issuance of the sukuk.
Subscription Minimum Limit
Five sukuk with a nominal value of SAR 5,000. For further details, please refer to the base prospectus prepared in relation to the sukuk
Offer Price
SAR 1,000/sak
Par Value
SAR 1,000/sak
Return
10.25% per annum payable semi-annually in arrears on each distribution date
Maturity
5 years
Redemption Terms
At Maturity Date, subject to any purchase and cancellation or early redemption, the sukuk will be redeemed at 100% of the aggregate nominal amount of the series, and the issuer call option on any periodic distribution date starting from the 3rd anniversary.
The sukuk instrument status is senior/unsubordinated, unsecured with a credit rating of “BBB” (Stable Outlook) by rating financial analytics, the statement added.
Regarding Zakat treatment, the company noted it will treat the sukuk as capital/equity for Zakat purposes throughout the period in which the sukuk are outstanding and pay the required Zakat on the sukuk.
Investors seeking to purchase the Sukuk will be required to submit a duly completed form to the dealer or receiving entities through the available channels.
The receiving entities are SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Al Bilad Investment, AlJazira Capital, Alistithmar for Financial Securities and Brokerage, Derayah Financial, ANB Capital, Alinma Investment, Alawwal Invest, Yaqeen Capital, Al Khabeer Capital, and Sukuk Capital.
The purchase of the sukuk by investors is subject to satisfying the terms and conditions set out in the investor application form and the base prospectus.
