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Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

Sipchem Sukuk three times oversubscribed

Posted on 06 July 2011

Shares of Saudi International Petrochemical Co., known as Sipchem, closed flat at SR23.35 on Monday as the Saudi Tadawul lead index dipped 0.52% to 6,625.87 points. Earlier in the day, Sipchem announced the successful closing of its first publicly listed Sukuk on June 29, 2011 of SR1,800m ($480m) which was upsized from the initial base case of SR1,500m due to the strong demand shown by interested investors.
The Sukuk provides Sipchem an alternate source to funding its projects using a Shariah-compliant Mudaraba structure……………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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