News 
Impact46, in its capacity as Lead Arranger and Co-Financial Advisor, announces the completion of the first public sukuk issuance of Bidaya Finance, with an aggregate value of SAR 200,000,000.
The issuance represents a significant milestone as the first publicly listed senior sukuk issued by a private company under the Capital Market Authority’s new regulatory framework.
The Sukuk carries a fixed annual profit rate of 7.1% with quarterly profit distributions, and a maturity of three years from the date of issuance.
Investor demand exceeded the targeted issuance size, and allocation was carried out in accordance with the approved distribution mechanism:
- Institutional investors were allocated 100% of their subscriptions
- Individual investors were allocated no less than 75% of their subscriptions
The dealer has notified the receiving entities to refund the excess amounts to subscribers who were not allocated their full subscriptions, and refunds will be processed by the receiving entities upon completion of their internal procedures.
The Sukuk will be listed on Tadawul and traded following completion of all relevant regulatory procedures.
