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Business, Company News, Economy, Markets

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Dar Al Arkan issues sukuk of $600m

The issuance received great interest from participants in the regional and international markets. (Twitter)
By TRENDS Desk
July 19, 2023 3:53 pm
  • The maturity period is of five years at a profit rate of 8 percent annually.
  • The issuance order book reached US$1.64 billion (SAR 6.15 billion).

RIYADH, SAUDI ARABIA – Dar Al Arkan Real Estate Development Co. announced on Wednesday the successful closing of its 13th issuance of Islamic Sukuk.

This issuance is the ninth tranche of the Islamic Sukuk program denominated in US dollars, with a value of US$600 million (SAR 2.25 billion). 

The order book for the sukuk was opened on Tuesday and closed on the same day, the company said in a statement to Tadawul.

Dar Al Arkan said that the maturity period is over a period of five years at a profit rate of 8 percent annually.

The issuance order book reached US$1.64 billion (SAR 6.15 billion).

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