Wethaq Group Gets Approval for Hybrid Sukuk Offering

Today, in a LinkedIn post, Mohammed Alsehli , 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.”

Claiming that Wethaq Group has offices in Riyadh, the UAE and London, Mohammed explained that 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. Alsehli was contacted by UNLOCK Blockchain, but no comments have been made yet.