Saudi's Hilwa plans to issue SAR-denominated Sukuk

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The Saudi firm appointed Sukuk Financial Company as the sole arranging manager that will handle the creating, issuing, and offering of the Sukuk notes

Staff Writer, Mubasher

January 18, 2023

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Riyadh – Al Jouf Mineral Water Bottling Company (Hilwa) intends to offer SAR-denominated Sukuk as part of its Ijarah Sukuk programme, according to a bourse filing.

The Saudi firm appointed Sukuk Financial Company as the sole arranging manager that will handle the creating, issuing, and offering of the Sukuk notes.

Subject to the approval of the Capital Market Authority (CMA), the Sukuk issuance aims to boost Hilwa’s capital expansions.

Meanwhile, the value of the offering will be determined at a later time in accordance with the market conditions.

Last November, the CMA greenlighted Hilwa’s capital hike to SAR 46.87 million from SAR 31.25 million.

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