Riyadh – Mubasher: Alawwal Bank on Sunday stated its plans to redeem its sukuk which were issued in 2012 at their par value (100% of issue price) at the end of the fifth year which will be on 26 November 2017 at a value of SAR 1.4 billion.
The sukuk are under the symbol 1045, distributed over 1,400 sak at a par of value of SAR 1 million per share, according to a statement to the Saudi Stock Exchange (Tadawul).
The original maturity date of sukuk is seven years in 2019, whereas they will be redeemed during 2017 after obtaining regulatory approvals.
The redemption amount, and the periodic distribution amount which is the profit for the current period ending 26 Novtember 2017 will be transferred to shareholders accounts on 26 November based on their ownership which was registered on 16 November.
The bank's stock inched up 0.35%, closing at SAR 11.43 on Thursday.
