First published: 21-May-2026 09:14:24

Staff Writer

Saudi-listed Intelligent Oud for Trading Company (iOud) has raised SAR 50 million ($13.32 million) in its latest sukuk issuance.

The Series 1 offering under the company’s SAR 300 million sukuk programme, saw exceptionally high demand with a subscription coverage of 179.35%.

Structured using an Islamic finance Mudaraba/Murabaha format, the sukuk offers a fixed return rate of 10.5% per annum, to be paid out to investors semi-annually. 

The issuance was subscribed to by institutional, qualified and retail investors.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com

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