Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) plans to issue USD-denominated trust certificates under its international trust certificate issuance programme, to be established on 4 February 2025.
The issuance is expected to be through a special purpose vehicle and by way of an offer to eligible investors in Saudi Arabia as well as globally, according to a bourse filing.
Ma’aden has mandated Citigroup Global Markets Limited, HSBC Bank, Al Rajhi Capital Company, BNP PARIBAS, GIB Capital, J.P. Morgan Securities, Natixis, Saudi Fransi Capital, SNB Capital Company and Standard Chartered Bank as joint lead managers.
The amount and terms of the offering will be determined subject to the market conditions.
As of 30 September 2024, the company’s net profits surged by 333.40% to SAR 2.97 billion from SAR 686.92 million a year earlier.
