The Clap
Alinma Bank (1150) intends to issue dollar sukuk as additional capital from the first tranche.
What
The bank expects the issuance to be conducted through a special-purpose company, targeting qualified investors inside and outside Saudi Arabia.
So What
The offering aims to enhance the capital from the first tranche and achieve general banking purposes.
Some Context
Alinma Bank achieved a net profit of approximately 4.8 million riyals during 2023, with a growth rate of 34.5% on an annual basis. This was attributed to the increase in its total operating income by about 22%.
Now What
The value and terms of the sukuk will be determined later based on market conditions.
