Saudi Exchange Approves the Listing of $12.08 Billion in Government Debt Instruments.

Saudi Exchange Approves the Listing of $12.08 Billion in Government Debt Instruments.

RIYADH: Saudi Arabia’s stock exchange has approved the listing of SR45.28 billion ($12.08 billion) in government debt instruments proposed by the Ministry of Finance. According to a Tadawul statement, the exchange has approved increasing the issuance of a government debt instrument dated April 7 from SR15.98 billion to SR17.63 billion.

Similarly, the bourse approved an increase in another instrument, dated April 1, from SR29.29 billion to SR38.53 billion. According to a Tadawul statement, the listing began on May 27.

On May 23, the exchange approved the Ministry of Finance’s request to list Saudi government debt instruments totaling SR18.84 billion. Trading in these debt instruments will start on May 27.

In a press statement, the NDMC stated that the Shariah-compliant debt product for the month was divided into two tranches: the first, valued at SR71 million and due in 2029, and the second, valued at SR3.16 billion and due in 2026.

Saudi Arabia issued SR7.39 billion worth of sukuk in April, up from SR4.44 billion in March and SR7.87 billion in February. In March, the NDMC also completed its second government sukuk savings round, with a total volume of requests totaling SR959 million and allocated to 37,000 applicants.

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