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Saudi’s Savola seeks shareholder nod for sukuk plan

Posted on 23 October 2012

Saudi-based Savola Group will seek shareholder approval for plans to issue Islamic bonds, or sukuk, the company said in a statement to the kingdom’s bourse on Monday.
The firm, which owns the Middle East’s biggest sugar refining business, will propose the plans at an Extraordinary General Meeting (EGM), the date of which will be announced once regulatory approvals for the move have been granted, the statement said. The proposal includes the company’s right to issue sukuk or any other securities, through one or more tranches or a series of issues under one or more program………………………………………..Full Article: Source

 
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