Riyadh July 17 2023: Almarai Co. plans to offer US-dollar-denominated trust certificates under the $200 million Trust Certificate Issuance Program updated by the company on July 14, according to a statement to Tadawul.
Almarai hired Citigroup, Dubai Islamic Bank, HSBC, JP Morgan, and Standard Chartered Bank as joint lead managers for the offering.
The issuance value will be determined later based on market conditions at that time.
The move aims to fulfill general corporate purposes as detailed in the base offering circular prepared by Almarai in relation to the program.
The offer will be subject to the approval of the relevant regulatory authorities and will be in compliance with applicable laws and regulations.
This announcement is not intended as an invitation or offer to purchase, acquire, or subscribe to any securities, the statement said.
The dairy producer will announce any material developments in due course as per the relevant rules and regulations.
