KUALA LUMPUR (Jan 4): Ekovest Bhd on Monday (Jan 3) issued RM150 million in nominal value of sukuk to finance its investment activities, capital expenditure and working capital requirements.

The Islamic notes issued represents the first tranche in a RM1.3 billion sukuk murabahah programme with a tenure of up to 20 years, said Ekovest in a bourse filing.

The construction engineering company said the first tranche of the programme has a tenure of one and a half years to seven years.

MIDF Amanah Investment Bank Bhd is the principal adviser, lead arranger and lead manager, while Astramina Advisory Sdn Bhd is the financial adviser for the sukuk programme.

Ekovest’s share price closed half a sen or 1.2% higher at 42 sen on Monday (Jan 3), with some 2.42 million shares traded. The group has a market capitalisation of RM1.12 billion.

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