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Sarwa Capital's unit eyes EGP 2.5bn Sukuk issuance

Sarwa Capital's unit eyes EGP 2.5bn Sukuk issuance
Sarwa Capital achieved net profits of EGP 93.78 million in Q1-20
Sarwa Capital Holding
SRWA
1.30% 4.00 0.05

Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that its subsidiary Sarwa Sukuk is set to issue EGP 2.5 billion Sukuk.

Sarwa Sukuk has submitted the prospectus for the issuance to the Financial Regulatory Authority (FRA) to be approved, according to a statement to the Egyptian Exchange (EGX) on Thursday.

The company is currently in discussions with parties of the transaction to determine the issuance terms. 

It is worth mentioning that during the first quarter of 2020, Sarwa Capital achieved net profits of EGP 93.78 million, down from EGP 127.87 million in the prior-year period, including minority shareholders’ rights.