Adira Finance to Issue IDR 1.5 Trillion Securities, Including IDR 200 Billion Sukuk Mudarabah

Indonesia-based Adira Dinamika Multi Finance (Adira Finance) is planning to raise finances by issuing securities totalling to IDR 1.5 trillion, which will consist of a Sukuk Mudarabah with a total value of IDR 200 billion with the remainder being conventional securities. The issuance of securities will form part of a continuous public offering (PUB) with an overall funding target of IDR 9 trillion, according to local media reports.

Adira Finance's Shelf Registration Sukuk Mudarabah IV phase I/2020 valued at IDR 200 billion is expected to be offered with a tenure of 370 calendar days and a floating profit sharing per year, according to information available from the Indonesian Central Securities Depository. The Sukuk bein...