May 1, 2016 / 6:21 AM / 4 years ago

Saudi Sipchem says to begin investor meetings in May for sukuk issue

DUBAI, May 1 (Reuters) - Saudi International Petrochemical Company (Sipchem) will begin investors meetings in May for a potential issue of sharia-compliant bonds, the firm said on Sunday.

Sipchem has appointed Riyad Capital and NCB Capital as managers of the possible sukuk, the value of which “will be determined based on market conditions”, according to a Riyadh bourse filing.

On March 28, Sipchem announced its board had approved issuing sukuk. (Reporting by Matt Smith; editing by Tom Arnold)

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