Aqaseem Secures SR 500 Million Sukuk Issuance with KLA's Guidance
Deal News | Jan 31, 2025 | Legal Community MENA
KLA has successfully advised Aqaseem on the completion of a SR 500 million Sukuk Issuance Programme, marking a significant event as it is the first of its kind set to occur in 2025. The Saudi Arabian company Aqaseem, known for its production of lubricants, oil, solvents, and liquid asphalt insulators, underwent the sukuk issuance under the approval of the Saudi Capital Market Authority. The KLA team was led by co-managing partner and head of corporate and securities, Fadi Daher, alongside several key team members. Fawaz Al-Dubaikhi, KLA’s managing partner, expressed pride over the advisory role and its importance to Aqaseem's financial strategy.
Sectors
- Finance & Investment
- Oil & Gas
- Legal Services
Geography
- Saudi Arabia – Aqaseem is based and operates in Saudi Arabia, and the sukuk issuance was approved by the Saudi Capital Market Authority.
Industry
- Finance & Investment – The issuance of sukuk is a financial transaction involving the raising of funds in the capital market.
- Oil & Gas – Aqaseem operates in the oil and gas sector, focusing on the production of lubricants, oil, and related products.
- Legal Services – KLA provided legal advisory services for the sukuk issuance process.
Financials
- SR 500 million – The value of the sukuk issuance programme advised by KLA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aqaseem | Target | Company | A Saudi Arabian company involved in the production of lubricants, oil, solvents, and asphalt. |
| KLA | Legal Advisor | Company | A law firm that advised Aqaseem on the sukuk issuance. |
| Saudi Capital Market Authority | Regulatory Body | Government | The authority that approved the sukuk issuance. |