Riyadh - Mubasher: WSM for Information Technology Company plans to establish a local Sukuk Program for issuing local Shariah-compliant Sukuk at a value of SAR 500 million.

The tech firm also appointed Impact Financial Company as the financial advisor for the Sukuk issuance and public offering, according to a bourse filing.

Subject to regulatory approvals, the program aims to support the company's business and expansions that achieve its financial and strategic objectives

Last July, the Saudi company signed a three-year agreement with the Public Sector to provide services upon purchase orders.