Riyadh – Mubasher: The extraordinary general assembly of Arabian Centres Company has approved the issuance of sharia-compliant sukuk.
The sukuk, which may be issued in any currency whether domestically and/or internationally, comes along with the company’s long-term policy, according to a bourse filing on Monday.
Arabian Centres tends to have more flexible and unsecured public markets financing.
The decision allows the company’s board to decide the size and value of any sukuk issuance, based on market conditions and the company’s financial situation, without reverting to shareholders.
It could also conduct necessary procedures to adopt any resolution, negotiate, and enter into any agreement or deed, when necessary, to implement this transaction.