DISPUTE WATCH-

Leen Alkhair Trading filed a complaint against Dinar Investment to the Capital Market Authority citing the “unilateral and sudden cancellation” of Leen’s sukuk issuance, it said in a disclosure to Tadawul yesterday. Leen alleges Dinar failed to transfer funds raised during the subscription period ending on 7 December.

IN CONTEXT- Last October, Leen tapped Dinar to be the sole arranger for its SAR 10 mn murabaha sukuk offering, with a par value of SAR 1k, which is also the minimum subscription amount. The program offered various maturity terms, ranging from 3 to 30 months.

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CAPITAL MARKETS-

Merrill Lynch KSA secured the Saudi Exchange’s approval to carry out market-making activities on Gulf Union Alahlia Cooperative Ins., Americana Restaurants, and Rabigh Refining and Petrochemical, effective today, according to a Tadawul disclosure yesterday.

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