On June 24, 2026, Takween Advanced Industries Co. announced its intention to establish a Saudi Riyal-denominated local Sukuk program compliant with Shariah principles, with an aggregate value of up to SAR 500 million. The Board of Directors approved the decision on June 23, 2026, and appointed Impact46 as the financial advisor and sole arranger for both public and private offerings. The proceeds will strengthen the company's working capital and liquidity position, refinance existing obligations and financing facilities, and fund general corporate purposes to support business continuity and strategic plans.

Original announcement:

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