Saudi Exchange celebrates the listing of Sukuk AlKathiri Series 1
Riyadh, 10 April 2023: Today, the Saudi Exchange celebrated the listing of Sukuk AlKathiri Series 1. AlKathiri Holding Company is one of the leading holding companies in Saudi Arabia, manufacturing construction materials and providing contracting services. The ceremony was attended by Mr. Nayef Saleh Al Athel, Chief of Listing in Saudi Exchange and Mr. Meshal Mohammed AlKathiri, Vice Chairman of Sukuk Alkathiri.
Speaking on the occasion, Nayef Al Athel, Chief of Listing in Saudi Exchange said, “We are pleased to welcome Sukuk AlKathiri Series 1 to the Saudi Exchange, which will undoubtedly provide the right platform for the sukuk’s success. The addition of Sukuk AlKathiri is another step towards diversifying the products available to local, regional and international investors, in line with our commitment to Vision 2030’s Financial Sector Development Program. This listing will support our aim to attract further investors and issuers to the Saudi capital market, showcasing the deepening of the debt market.”
Meshal AlKathiri, Vice Chairman of Sukuk Alkathiri said: “The listing of our Series 1 Sukuk on the Saudi Exchange is an exciting step in our growth journey. Since inception, our advanced and innovative manufacturing capabilities have enabled us to deliver significant value for our shareholders and customers. This move will also allow us to attract investment from regional and international investors which will help supercharge our growth and expansion, in line with the Kingdom’s Vision 2030.”
Investment in Sukuk AlKathiri Series 1 requires a minimum amount of SAR 1,000, representing the value of one Sak, and the annual coupon rate of the Sukuk is 8.50%.