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Headline : Kenya’s first Shariah bond raises Sh3 billion

Read more from the original article on here at www.businessdailyafrica.com.





Tags : #kenyas #first #shariah #bond #raises #sh3 #billion


No. of Paragraph 22

Kenya’s inaugural Shariah-compliant bond, Linzi Sukuk, has raised the targeted Sh3 billion after bids came in at Sh3.02 billion.

Sources familiar with the issuance have told this publication the Sukuk is earmarked for listing on the Nairobi Securities Exchange in what authorities hope will further widen the array of asset classes available.

The Business Daily has further established that the bulk of the investors who tapped into the opportunity did so through CPF Asset Managers and Liaison Asset Managers.

Linzi Finco Trust secured the Capital Market Authority’s (CMA's) approval to issue Kenya’s first Sukuk on September 20, 2023 and has been in the market since with a targeted issuance which means only specific investors were courted to tap into it.

Read more from the original article on here at www.businessdailyafrica.com.


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