Riyadh – Mubasher: Intelligent Oud for Trading Company (iOud) has announced the successful completion of its Series 1 Sukuk offering.
This issuance is the first under the company’s senior, credit-enhanced Sukuk issuance program, which has a total authorized value of SAR 300 million.
The offering achieved a final subscription coverage ratio of 179.35%, indicating robust demand for the Sharia-compliant debt instrument.
The Series 1 issuance reached a total value of SAR 50 million, consisting of 50,000 Sukuk units. Each unit was issued at a nominal value of SAR 1,000.
The Sukuk offering carries a fixed annual return of 10.50%, which is scheduled to be paid to investors on a semi-annual basis.
Meanwhile, the offering period for this series took place between 10 and 14 May 2026.
Moreover, the Sukuk have a five-year maturity period, with a final maturity date set for 20 May 2031.
The issuer maintains a call option that allows for the early redemption of the Sukuk after 24 months from the date of issuance. At the end of the term, the Sukuk will be redeemed at 100% of their nominal value, subject to any early redemption or cancellation provisions.
The company reported that institutional investors received an allocation of 100%, while qualified investors in the Parallel Market were allocated 56% and individual investors received 45%.
iOud noted that the relevant receiving entities are mandated to return surplus subscription funds to eligible investors by 20 May 2026.
Intelligent Oud has submitted the necessary applications to the Capital Market Authority (CMA) for the registration and offering of the Sukuk, as well as to the Saudi Exchange (Tadawul) for the listing and trading of the instruments on Tadawul.
Total expenses associated with the offering, including fees for financial advisors, legal counsel, auditors, and marketing, are estimated at approximately SAR 4.6 million. These costs are being covered entirely by the issuer.
The completion of this Series 1 issuance marks a significant milestone in the execution of Intelligent Oud’s broader SAR 300 million Sukuk program. The high coverage ratio reflects investor confidence in the company’s credit profile and the broader appetite for fixed-income instruments within the Saudi Arabian capital markets.
