Mady, SABIC Vice Chairman and Chief Executive Officer said, "With this debut issuance, SABIC is pleased to have led the way in opening up the non-equity capital market sector in the Kingdom. We are gratified that we were able to achieve our key objectives with this transaction, namely further development of the Kingdom's capital markets and providing investors with greater investment choice, and the first step in diversification of our funding sources". Mutlaq H. Al-Morished, SABIC Vice President, Corporate Finance, said, "The issuance in a Sukuk format also demonstrates SABIC's continuing commitment to promote and lead Islamic financing. The participation of a diverse investor base within the Kingdom reflects the confidence in SABIC and its growth prospects. Such confidence was also evident in the substantial oversubscription in the offering, resulting in scaling down in allotments despite issuing at the maximum approved amount of SR 3 billion.“ --MORE 25/07/2006 10:53 ت م
