Riyadh - Mubasher: Takween Advanced Industries Company has officially announced its intention to establish a Sharia-compliant local Sukuk program denominated in Saudi Riyals, with a total value of SAR 500 million.

The initiative, approved by the company’s Board of Directors, is designed to bolster the firm’s liquidity position and support its long-term strategic and operational objectives.

To facilitate the issuance, the company has appointed Impact46 as the exclusive financial advisor and arranger for the proposed program.

According to a regulatory filing on the Saudi Exchange (Tadawul), the Board of Directors reached the decision to proceed with the debt instrument program on 23 June 2026.

The program is structured to include both public and private offerings, providing the company with flexibility in how it accesses the Saudi debt capital markets. The final terms and conditions of the issuance remain subject to the specific frameworks approved by the board and the prevailing market conditions at the time of the offering.

The primary objective behind the SAR 500 million program is to strengthen Takween’s financial infrastructure. Specifically, the proceeds are earmarked for enhancing working capital and improving the company’s overall financial liquidity.

Furthermore, a significant portion of the funds will be utilized to refinance existing financial obligations and credit facilities. By restructuring its debt profile through this Sharia-compliant instrument, the company aims to secure the necessary funding for general corporate purposes, which will in turn support business continuity and the execution of its broader operational plans.

The appointment of Impact46 as the sole financial advisor and arranger marks a critical step in the preparation for the issuance.

Impact46 will be responsible for managing the structuring of the program and ensuring that the offering meets the necessary regulatory requirements.

Takween emphasized that the actual issuance of any Sukuk under this program will be contingent upon obtaining the required approvals from the relevant regulatory authorities, in accordance with the laws and regulations governing the Saudi capital markets.

Takween Advanced Industries also clarified that this announcement serves as a disclosure of intent and does not constitute a formal invitation, offer, or solicitation to purchase, own, or subscribe to any securities.

The specific details regarding the timing of the tranches, the expected rate of return, and the maturity dates will be determined at a later stage based on the company’s requirements and the appetite of the local investment community.