Sarwa Capital eyes EGP 2.5bn Sukuk issuance through its subsidiary

Sarwa Capital Holding for Financial Investments announced that its subsidiary Sarwa Sukuk is set to issue  2.5 billion Egyptian pounds Sukuk.

Sarwa Sukuk has submitted the prospectus for the issuance to the Financial Regulatory Authority (FRA) to be approved, according to a statement to the Egyptian Exchange (EGX).

The company is currently in discussions with parties of the transaction to determine the issuance terms.

It is worth mentioning that during the first quarter of 2020, Sarwa Capital achieved net profits of EGP 93.78 million, down from EGP 127.87 million in the prior-year period, including minority shareholders’ rights.