“Scientex Bhd initiates RM1.5 billion Sukuk Wakalah Programme to fund expansion, refinance debt, and bolster working capital with RHB as adviser.“
Kuala Lumpur, 14th Nov 2024, 2.52pm – Scientex Bhd, a key player in packaging solutions, has announced the establishment of a RM1.5 billion multi-currency Islamic medium-term notes programme, or Sukuk Wakalah, to support its growth initiatives.
The sukuk programme, registered with the Securities Commission Malaysia, aims to fund Scientex’s capital expenditures, investment opportunities, refinancing, and working capital needs. Each sukuk issued under this programme will have a minimum tenure of one year, with flexibility for each issuance to be rated or unrated.
RHB Investment Bank Bhd is acting as the principal adviser, lead arranger, lead manager, and facility agent for the sukuk programme, while RHB Islamic Bank Bhd serves as the shariah adviser.
Scientex shares ended the day down three sen to RM4.53, bringing the group’s market cap to RM7.05 billion. Year-to-date, the stock has gained 19%.
