Logo ofTakween Advanced Industries Co.
Takween Advanced Industries Co. is planning to establish a SAR-denominated sukuk program to issue local Shariah-compliant sukuk worth SAR 650 million, according to a statement toTadawul. 
The company said its board appointed today, Oct. 19, Sukuk Capital Co. as financial advisor for the public and private sukuk offerings.
Details
Description
Type of issuance
Establishment of SAR-denominated local sukuk program
Program value
SAR 650 million
Purpose
To support working capital and operational activities of the company and its subsidiaries, finance expansion projects, and achieve strategic objectives
The sukuk issuance is subject to the approval of the competent authority and will be offered in compliance with the relevant laws and regulations.
The company will announce any other relevant material developments to its shareholders in due course, the statement added.
Logo ofTakween Advanced Industries Co.
Takween Advanced Industries Co. is planning to establish a SAR-denominated sukuk program to issue local Shariah-compliant sukuk worth SAR 650 million, according to a statement toTadawul.
The company said its board appointed today, Oct. 19, Sukuk Capital Co. as financial advisor for the public and private sukuk offerings.
Details
Description
Type of issuance
Establishment of SAR-denominated local sukuk program
Program value
SAR 650 million
Purpose
To support working capital and operational activities of the company and its subsidiaries, finance expansion projects, and achieve strategic objectives
The sukuk issuance is subject to the approval of the competent authority and will be offered in compliance with the relevant laws and regulations.
The company will announce any other relevant material developments to its shareholders in due course, the statement added.
