Middle East Economic Survey
SABIC Receives Approval To Increase Sukuk Offer
Saudi Basic Industries Corporation (SABIC) was given approval by the Capital Markets Authority (CMA) last week to increase the value of its second sukuk offering (SABIC Sukuk II) to a maximum of SR8bn ($2.1bn) from the maximum of SR5bn ($1.3bn) originally approved (MEES, 16 July). SABIC asked for the increase due to indications of strong investor demand during recent roadshows. SABICs...