Today, in a LinkedIn post, Mohammed A, CEO at Wethaq, announced that the capital markets group, focusing on the emerging private markets, got the approval for its hybrid Sukuk, which will be available on its platform at a value of 250 million riyals.
Mohammed A wrote on LinkedIn, “Praise be to God, hybrid Sukuk was approved to be offered on the Wethaq platform, at a value of 250 million riyals. This is the first offering of its kind that relies on distributed ledger technology to manage subscriptions, security services, saving and then trading them.”
He added, “This offering is intended for qualified investors.”
With offices in Riyadh, the UAE and London, the capitals market group caters to the needs of the GCC markets across corporate finance, primary issuance, custody, dealing (matched principal), execution, and fintech.
Mr. Mohammed was contacted by UNLOCK Blockchain, but no comments have been made yet.
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