- JEDDAH: Saudi Arabia's Almarai Co., the Gulf's biggest dairy firm by market value, raised SR1 billion ($266.6 million) through a sukuk, or Islamic bond, issue on March 7, the firm said in a bourse statement on Sunday.
"Almarai successfully issued sukuk for SR1 billion on March 7, 2012. The orders reached SR4.7 billion, 4.7 times oversubscribed," the statement said.
It is the first time that Almarai has issued public debt, having begun road shows for the offering last month.
HSBC Saudi Arabia was the arranger of the sukuk.
