Tamkeen Ends Sukuk Program, Plans New 500M Riyal Initiatives

Tadawul Takhween Industries has completed its local sukuk program denominated in Saudi Riyals, which was planned to issue bonds worth 650 million Riyals, after only one financing tranche of 60 million Riyals was executed. The decision came as a result of a strategic review and a search for alternative funding options, with little expectation of a significant impact on the company's financial statements. The company also intends to establish new sukuk programs totaling 500 million Riyals and has appointed a financial advisor for this program.

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