KUALA LUMPUR, Oct 29 — Shares of SP Setia Bhd edged lower in early trade today after the company lodged an Islamic notes issuance programme of up to RM3.5 billion and an Islamic commercial papers (ICP) programme of up to RM500 million.
In a filing with Bursa Malaysia yesterday, the property developer said the Islamic notes issuance (sukuk wakalah programme) comprises the issuance of senior Islamic medium-term notes (senior sukuk wakalah) and/or subordinated perpetual Islamic notes (perpetual sukuk wakalah).
It said the ICP programme has a tenure of seven years, with the first issuance to be made within 90 business days from the lodgement date.
At 9.59 am, SP Setia’s shares slipped half-a-sen to 88 sen, with 3.39 million shares traded.
