Sri Lanka Firm Plans Nation’s First Listed Sukuk in Coming Weeks
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Sri Lankan renewable energy producer Vidullanka Plc is planning to sell the nation’s first publicly listed Sukuk bond in coming weeks after efforts by the local bourse to kick start an Islamic finance market.
Vidullanka, listed on the Colombo Stock Exchange, is seeking to raise 500 million Sri Lankan rupees ($1.7 million), with the potential to upsize the deal based on investor demand, according to people with knowledge of the matter who asked not to be identified discussing private information. Fitch assigned in March an expected local rating of A+ to the potential offering.