13.06.2011 - Sipchem Sukuk issue wins approval

Saudi International Petrochemical Co (Sipchem) has been given regulatory approval to issue an Islamic bond, or sukuk, it said on Sunday. The company said it would decide the size at a later stage after it got approval from Saudi Arabia's Capital Market Authority. Sipchem said in December it planned to raise at least 1.5 billion riyals ($400 million) through a sukuk issue by the first quarter of 2011 to finance new projects.............................................Full Article: Source

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