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Arabian Centres plans to issue USD-denominated Shariah-compliant Sukuk

Arabian Centres plans to issue USD-denominated Shariah-compliant Sukuk
Number and value of Sukuk will be determined based on market conditions - (Photo Archive)
ALMRAKEZ
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Riyadh - Mubasher: Arabian Centres Company (ACC) plans to issue US Dollar (USD) denominated Shariah-compliant Sukuk to achieve the company’s financial and strategic objectives. 

The number and value of the Sukuk will be determined based on market conditions and the company’s financial conditions, funding requirements, and strategy, according to a bourse filing on Wednesday. 

The Sukuk offering will be subject to the approval of the relevant regulatory authorities. 

It is noteworthy to mention that during the third quarter (Q3) of 2020, the company registered a 13.6% annual drop in profits at SAR 95.6 million.