Molan Steel Co. plans to issue SAR-denominated sukuk, also commonly referred to as sharia compliant bonds, worth SAR 20 mln (USD 5.3), according to a statement to Tadawul.
The company has appointed Afaq Financial as the sole arranger for the establishment, issuance, and offering of the sukuk on its platform.
The issuance aims to support Molan Steel’s investment and operational needs.
Molan Steel is a major supplier of steel products for the construction and fabrication sectors in the Middle East region.
1 USD / 3.75 SAR
