Adib Capital seeks regulatory approval for USD 50 mn sukuk issuance

Abu Dhabi Islamic Bank’s investment banking unit Adib Capital Egypt is planning to request regulatory approval from the Financial Regulatory Authority (FRA) for a sukuk issuance it is managing for an unnamed local company, CEO and MD Hatem El Demerdash told Al Mal. The company’s shareholding is divided between public and private entities. The USD 50 mn sukuk issuance is the first to come out of the nation’s corporate sector. Adib Capital is also advising on two acquisition agreements in the education and health sectors, El Demerdash said, without providing further details.