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Red Sea International Co. announces intention to issue Saudi Riyal-denominated sukuk to be offered via the website of Tarmeez Capital Financial Company, which is licensed by the Capital Market Authority to establish a platform for offering and investing in debt instruments.
| Element List | Explanation |
|---|---|
| Introduction | Red Sea International Company announces its intention to offer Saudi Riyal-denominated Murabaha Sukuk under the (Murabaha Sukuk Program). The company has appointed Tarmeez Capital Financial Company as the sole lead arranger for the purpose of establishing, issuing, and offering the sukuk. |
| Offer Type | Saudi Riyal-denominated sukuk to be offered via the website of Tarmeez Capital Financial Company, which is licensed by the Capital Market Authority to establish a platform for offering and investing in debt instruments. |
| Date of the board’s decision | 2025-05-12 Corresponding to 1446-11-14 |
| Value of the offer | SAR 100,000,000 |
| The Purpose of the offer | To strengthen the company’s working capital and capital expansions to support the company’s operational activities, expansions, and investments in its real estate assets, according to a study conducted by the company for this financing request. |
| Approvals | Offer of the Sukuk will be subject to the approval of the relevant regulatory authorities, and will be made in compliance with applicable laws and regulations. |
| Additional Information | The sukuk offering prospectus can be accessed through the website of Tarmeez Capital Financial Company and will be announced at a later time. (https://tarmeez.co/) The company emphasizes the importance of reading the prospectus carefully and thoroughly before making any investment decision related to the sukuk subscription. This announcement does not constitute an invitation or offer to purchase, own, or subscribe to any securities. The company will announce any other material developments in due course in accordance with applicable laws and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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