The Capital Market Authority Announces the Approval on the Registration and the Public Offering of Debt-Based Recourse Debt Instruments Program of the Special Purposes Entity Al Kathiri Sukuk

The Capital Market Authority (“CMA”) announces the issuance of its Board resolution dated 1444/03/02 AH corresponding to 2022/09/28 AD approving the application of Special Purposes Entity Al Kathiry Sukuk (“SPE”) for the registration and public offering of debt-based recourse debt instruments within a program that does not exceed the value of 500 million Riyal submitted by, established under license No. (SPE00034) dated 1443/05/12 AH corresponding to 2021/12/16 AD by Al Kathiri Holding Company (“Sponsor”). Moreover, the prospectus will be published within sufficient time prior to the start of the subscription period.

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the financial statements of the SPE’s sponsor and adequate information about its activities and management, in addition to the details of the issuance program mentioned above

A subscription decision without reading the prospectus carefully or fully reviewing its content, may involve high risks. Therefore, investors should carefully read the prospectus which contains detailed information about the SPE, the SPE’s sponsor, and the offering and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.

The CMA’s approval on the application should not be considered as a recommendation to subscribe in the offering or the debt instruments. The CMA’s approval on the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA’s approval shall be deemed cancelled if the offering and listing of the first tranche of debt instruments of the program are not completed within (6) months of the CMA’s Board resolution date.

Original Post: