RIYADH: The Saudi Electricity Co. has announced its intention to fully redeem its SR5.7 billion ($1.52 billion) local sukuk that is due on May 10 and listed on Saudi Arabia's stock exchange, Tadawul.
The total number of redeemed sukuk is 573,069, with a nominal value of the sukuk upon redemption of SR10,000, according to bourse filling.
In light of the company's desire to recover all sukuks, Saudi Tadawul will suspend its trading from April 26 in order to begin procedures to cancel its listing.
