Red Sea International Co. announced on March 29, 2026 its board's decision to issue SAR 100,000,000 in Saudi Riyal-denominated Murabaha Sukuk through the Murabaha Sukuk Program. The sukuk will be offered via Tarmeez Capital Financial Company's platform, which serves as the sole lead arranger and is licensed by the Capital Market Authority for debt instrument offerings. The proceeds will reinforce the company's working capital and finalize remaining expenditures for restructuring initiatives aimed at optimizing cost efficiencies and rationalizing unprofitable operations outside the Kingdom.

Original announcement:

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