Saudi Cable says the sukuk proceeds will support financial and strategic restructuring
Saudi Cable Co.’sboard of directors approved, on Nov. 24, the issuance of SAR 300 million sukuk (non-convertible to shares) through a Sharia-compliant structure combining Murabaha and Mudaraba. 
The move is part of its financial and strategic restructuring, aimed at refinancing its current obligations, as well as supporting its growth and operational stability, the company said in a statement to Tadawul.
The sukuk issuance is subject to the approval of the relevant regulatory authorities and will be carried out in accordance with all applicable laws and regulations.
The company added that its request to raise its capital by SAR 400 million through a rights issue, previously announced on Tadawul, is still under review by the Capital Market Authority (CMA).
Any material developments regarding the request will be announced in due course, the statement said.
Saudi Cable says the sukuk proceeds will support financial and strategic restructuring
Saudi Cable Co.’sboard of directors approved, on Nov. 24, the issuance of SAR 300 million sukuk (non-convertible to shares) through a Sharia-compliant structure combining Murabaha and Mudaraba.
The move is part of its financial and strategic restructuring, aimed at refinancing its current obligations, as well as supporting its growth and operational stability, the company said in a statement to Tadawul.
The sukuk issuance is subject to the approval of the relevant regulatory authorities and will be carried out in accordance with all applicable laws and regulations.
The company added that its request to raise its capital by SAR 400 million through a rights issue, previously announced on Tadawul, is still under review by the Capital Market Authority (CMA).
Any material developments regarding the request will be announced in due course, the statement said.
