Development Works Food Company has completed the offering and subscription of its Saudi riyal-denominated Murabaha Sukuk, valued at SAR 5 million, through Dinar Investment Platform. In a statement published on Tadawul Saudi today, the company announced that 5,000 sukuk were issued, each with a nominal value of SAR 1,000. The company stated that the return rate for the 3-month sukuk is 11.72%, 11.76% for 6 months, 11.86% for 9 months, and 11.90% for 12 months, noting that the maturity period varies depending on the issuance term, ranging from three months to one year. It also added that Development Works Food Company reserves the right to redeem the sukuk under certain conditions, as detailed in the issuance prospectuses dated January 26, 2023.
Development Works Food Company has completed the offering and subscription of its Saudi riyal-denominated Murabaha Sukuk, valued at SAR 5 million, through Dinar Investment Platform.
In a statement published on Tadawul Saudi today, the company announced that 5,000 sukuk were issued, each with a nominal value of SAR 1,000.
The company stated that the return rate for the 3-month sukuk is 11.72%, 11.76% for 6 months, 11.86% for 9 months, and 11.90% for 12 months, noting that the maturity period varies depending on the issuance term, ranging from three months to one year.
It also added that Development Works Food Company reserves the right to redeem the sukuk under certain conditions, as detailed in the issuance prospectuses dated January 26, 2023.
