Molan Steel Co. announces intention to issue Saudi Riyal-denominated Sukuk
| Element List | Explanation |
|---|---|
| Introduction | Molan Steel Co. announces its intention to issue Sukuk denominated in Saudi Riyals.
The company has also appointed Afaq Financial as the sole arranger for the establishment, issuance, and offering of the Sukuk in their platform |
| Offer Type | Saudi Riyal-denominated Sukuk |
| Date of the board’s decision | 2025-03-09 Corresponding to 1446-09-09 |
| Value of the offer | 20,000,000 SAR |
| The Purpose of the offer | Financing the company’s investment and operational needs. |
| Approvals | The Company subscribed through the arranged market for the necessary subscriptions from the Finance Authority prior to the issuance of the Sukuk under the Programme. |
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