Najran to meet investors for riyal sukuk issue

Saudi Arabia-based Najran Cement plans to meet fixed income investors starting on Sunday for a riyal-denominated sukuk issue, the company said yesterday.

Najran has appointed Saudi Fransi Capital as sole lead manager, the firm said in stock market filing.

Proceeds from the issue will be used to refinance debt and for general corporate purposes. Najran did not provide details of the tenor and size of the issue.