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Market Authority Denies Miyar Sukuk Request
Miayyar Holding Company announced that it has received a decision from the Capital Market Authority to reject its request to register and issue convertible sukuk worth 500 million riyals. The company had submitted this request in September 2024 aimed at strengthening its financial position and providing diverse financing channels. This decision was issued after a review process that lasted several months. The company had filed with the Authority based on internal approvals it had obtained, but the project was rejected by the Authority in August 2026. Currently, the rejection does not incur any direct costs or financial impacts on the company, and its financing plans remain on hold until a new decision is issued.
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