The roadshow for the launch of the Al Ahlia Real Estate Projects Company (Arepco) equity investment sukuk offering ended in Dubai yesterday. Bahrain-based Liquidity Management Centre (LMC) is the mandated lead arranger and Emirates Islamic Bank is the co-arranger and senior lead manager.
The sukuk is being issued to invest in and acquire up to 49 per cent of the outstanding equity in Arepco at a US dollar equivalent of KD0.325 fils per share. Arepco is a wholly owned subsidiary of Al Ahlia Holding Company (AHC) a company listed on the Kuwaiti stock exchange. Following the successful Sukuk closing AHC shall continue to hold a 51 per cent ownership interest in Arepco and the company shall remain the real estate arm of AHC.
The sukuk maybe listed on the Bahrain Stock Exchange along with other GCC stock exchanges for the tenor of the sukuk