Sukuk offering boosts SapuraKencana’s share price

SapuraKencana Petroleum Bhd's share price rose this morning following its plan to launch a US$200 million (RM848.18 million) sukuk next week. The company's share gained two sen to RM1.79, as at 10.27 am, with 3.27 million shares changing hands. The first tranche of the sukuk, structured based on the Shariah principle of Commodity Murabahah, is scheduled to be launched on September 8, 2015. This is the first sukuk under the new Securities Commission's guidelines on Unlisted Capital Market Products under the lodge and launch framework effective from June 15, 2015.