Riyadh – Mubasher: Al Kathiri Holding Company has announced its intention to issue local Sharia-compliant Sukuk worth SAR 500 million.

The company seeks to market Saudi riyals-denominated Sukuk to accomplish general corporate purposes and meet its financial objectives and strategies, according to a bourse filing on Tuesday.

In compliance with the relevant laws and regulations, the Sukuk offering is subject to the approval of the competent authority.

The company's board appoints Al-Khair Capital as an advisor for the transaction.