Saudi Industrial Development Co. — Capital/Financing Update 2024

Sep 12, 2024

Saudi Industrial Development Company (SIDC) announces the intention of its subsidiary, “Sleep High”, to issue Murabaha Sukuk denominated in Saudi riyals

2130 · 12/09/2024 08:01:01 · Announcement #82519 · View on Saudi Exchange

Saudi Industrial Development Company (SIDC) announces the intention of its subsidiary, “Sleep High”, to issue Murabaha Sukuk denominated in Saudi riyals

Element List	Explanation
Introduction	Saudi Industrial Development Company (SIDC) announces the intention of its subsidiary (The Global Marketing Company for Sleeping System “Sleep High” (to issue Murabaha Sukuk denominated in Saudi riyals by offering through the website of the Sukuk Capital, authorized by the Capital Market Authority to offer and invest in debt instruments.
Offer Type	Murabaha Sukuk denominated in Saudi riyals in compliance with Islamic Sharia rules and principles.
Date of the board’s decision	2024-09-11 Corresponding to 1446-03-08
Value of the offer	Ten million (10,000,000) Saudi riyals.
The Purpose of the offer	Financing the company’s working capital.
Approvals	Subject to relevant rules and regulations.
Additional Information	The Company has appointed Sukuk Capital to arrange the process of issuing Sukuk and offer it to investors. The prospectus for the Sukuk Offering can be viewed on the Sukuk Capital’s website (https://sukuk.sa/).

The company emphasizes the importance of reading the prospectus carefully and in full before making any investment decision related to subscribing to the sukuk.

This announcement does not constitute an invitation or offer to buy, hold or subscribe for any securities. The company will announce any other significant developments in a timely manner in accordance with the relevant laws and regulations.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.