Ma’aden Launches US Dollar Sukuk Offering for Qualified Investors Until January 29

Riyadh | EcoPulse24

The Saudi Arabian Mining Company (Ma’aden) has announced the commencement of a US dollar-denominated sukuk issuance via a special purpose vehicle, targeting qualified investors both domestically and internationally, according to its disclosure on the Saudi Stock Exchange (Tadawul).

The subscription period begins on January 22, 2026, and ends on January 29, 2026. The final value, pricing terms, yield, and maturity will be determined according to prevailing market conditions at the time of the offering.

Ma’aden stated that the minimum subscription amount is $200,000, with increments of $1,000, and the nominal value per sukuk is set at $200,000.

A consortium of lead managers has been appointed, including Albilad Investment, Aljazira Capital, NCB Capital, Citigroup, Goldman Sachs, HSBC, JPMorgan, BNP Paribas, Merrill Lynch, and Bank of China (Hong Kong branch), among others.

Ma’aden emphasized that this announcement does not constitute an invitation or offer to buy, own, or subscribe to securities, and the offering is subject to the terms and conditions outlined in the prospectus. The company pledged to disclose any material developments in accordance with relevant regulations.

In market trading, Ma’aden’s shares (1211) closed at SAR 72.7, down 1.09%, with a trading value of approximately SAR 69.14 million and a traded volume of 958,881 shares.

EcoPulse24 Analysis:
The launch of the US dollar sukuk broadens Ma’aden’s funding sources beyond the local market and aligns with the trend among major companies to tap into debt markets when pricing conditions are favorable. The key factors influencing the sukuk’s impact on the stock will be the final pricing, yield, maturity, and the level of qualified investor participation during the offering period.