Saudi dairy giant Almarai closes $426m sukuk issuance

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Sun, 2022-09-18 09:15

RIYADH: Saudi-based dairy giant Almarai has completed the issuance of a SR1.6 billion ($426 million) sukuk, as of Sep. 16, it said in a bourse filing.

The sukuk, which offered a floating rate coupon, was offered to professional investors in the Kingdom for a period of seven years.

The financial results of this transaction are expected to be disclosed in the third quarter of 2022, it said.

Earlier, the dairy giant reported a first half net profit of SR940.8 million, up eight percent from SR868 million the previous year.

Established 1977, Almarai specializes in the manufacturing and distribution of dairy products. It is listed on the Tadawul stock exchange. (Shutterstock)
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