At aGlance
WSM for Information Technology Co. is a Saudi joint stock company specialising in technology consulting and digital solutions. Founded in 2014 and headquartered in Riyadh, it has been listed on Nomu – Parallel Market since February 2024 under ticker 9595.
WSM serves government and private-sector clients across four integrated service lines — professional services, managed services and outsourcing, solutions, and proprietary software products — covering the client journey from advisory and design through build, operation and ongoing support.
In December 2024 WSM fully acquired Wasl Technology for Information Systems, diversifying its services and raising its delivery capacity so the company can build long-term relationships with its clients.
WSM intends to use the sukuk proceeds to support its general corporate purposes and growth plans; the targeted use may include acquisitions and data centre expansion.
- Year founded
- 2014
- Regulatory status
- Listed on Nomu
- Since February 2024 — ticker 9595
- Core offering
- Tech consulting & solutions
- Four integrated service lines
- Head office
- Riyadh
- Kingdom of Saudi Arabia
- Share capital
- SAR 28.6m
- 2.86m shares at a nominal value of SAR 10
- Revenue mix (H1 2026)
- 54% government / 46% private
- vs 68% / 32% in 2025
PerformanceHighlights
H1 2026 highlights
- Revenue (annualised)
- 40.8m
- Versus SAR 50.4m in FY2025
- Net profit (annualised)
- 1.6m
- Versus SAR 3.8m in FY2025
- EBITDA (annualised)
- 6.0m
- 14.8% margin, versus SAR 7.8m at a 15.5% margin in FY2025
- Total equity
- 49.9m
- Versus SAR 49.1m as at 31 December 2025
- Total assets
- 68.8m
- Versus SAR 71.0m as at 31 December 2025
- Total liabilities
- 18.9m
- Versus SAR 21.9m as at 31 December 2025
- Leverage
- 0.22x
- Debt/equity — versus 0.17x in FY2025 (covenant maximum 3.0x)
H1 2026 revenue, net profit and EBITDA are shown annualised (H1 results × 2). Total equity, total assets, total liabilities and leverage are as at 30 June 2026 and are not annualised. Comparatives are for FY2025 and are unadjusted.
LeadershipTeam
Fahad bin Ibrahim Al-Aboud
Chairman of the Board
Dr. Alanoud bint Mohammed Al-Qahtani
Vice-Chairman and Chief Executive Officer
Amal bint Ayed Al-Otaibi
Board Member
Turki bin Abdulrahman Al-Atif
Board Member
Adel bin Saud Al-Mansour
Board Member
First SukukIssuance
Credit-Enhanced Sukuk- Structure:
- Mudaraba & Murabaha
- Offering type:
- Public
- Listing venue:
- Sukuk & Bonds Market (Tadawul)
- Target issuance size
- 35,000,000
- Profit rate
- Fixed 9.5%(after Zakat)
- Issuance credit rating
- BBB+*(investment grade)
- * Preliminary credit rating
- Distributions
- Semi-annual
- Tenor
- 5 years, investment amount redeemed at maturity
- Zakat
- Sukuk treated as capital, included in the company's zakat base
- Use of proceeds
- General corporate purposes; the targeted use may include acquisitions and data centre expansion
- Nominal value per sukuk
- 1,000
- Minimum subscription
- One sukuk — SAR 1,000
- Target investors
- Individuals and institutions
- Programme size
- 500,000,000
Credit Enhancement
A 12-month Sukuk Servicing Reserve Account, covering any shortfall in profit distributions and supporting repayment of the principal at maturity.
Issuer
Financial Advisor and Sole Arranger
TransactionAdvisors
Financial Advisor & Sole Arranger
Impact46 Financial Company
Sukukholders' Agent, Payment Administrator, Account Bank & Dealer
Value Capital
Credit Rating Agency
Financial Analytics Company
Legal Counsel to the Issuer
Abdulrahman bin Abdulmohsen Alnafea Law Firm
Legal Counsel to the Financial Advisor and Sole Arranger
Norton Rose Fulbright
What is aSukuk?
Sukuk are Shariah-compliant financial instruments representing undivided common ownership held by sukukholders under the programme documents, entitling the holder to periodic returns.
Benefits of investing in listed sukuk
Shariah compliance
Compliant with the provisions of Islamic Shariah.
Periodic returns (after Zakat)
9.5% (after Zakat) per annum, distributed semi-annually.
Traded in the Saudi Market
Tradable (buy and sell) on the Sukuk & Bonds Market once listed.
Investment HighlightsWhy WSM Sukuk
Minimal leverage
Debt stands at roughly 0.22x of shareholders' equity — far below the maximum set out in the sukuk programme covenants (3.0x).
Growth backed by revenue diversification
Government entities accounted for 54% of WSM's revenue in H1 2026, against 46% from the private sector. In 2025, the two shares stood at 68% and 32% respectively.
Flexible revenue sources
WSM is able to shift its revenue sources in line with market demand and its clients' needs. This flexibility helps it adapt to change and respond to the needs of the sectors it serves, limiting the impact of market volatility on its business.
Sukuk Servicing Reserve Account
The issuance includes a Sukuk Servicing Reserve Account with a balance equal to 12 months of profit distributions, to support payment of periodic distributions if a shortfall arises on a distribution date. This account does not constitute a full guarantee of payment in all circumstances.
How the proceeds will be used
Proceeds raised from the issuance will be used to support the company's general corporate activities; the targeted use may include acquisitions and data centre expansion.
How toSubscribe?
01Investment Decision
Read the Base Prospectus to understand the sukuk features, risks and eligibility.
Issuance Details Summary- Profit rate
- Fixed 9.5% (after Zakat)
- Distributions
- Semi-annual
- Tenor
- 5 years
- Issuance credit rating
- BBB+* (investment grade)
- Listing venue
- Sukuk & Bonds Market, Tadawul
- Credit enhancement
- 12-month Sukuk Servicing Reserve Account
* Preliminary credit rating. For full details, please refer to the Base Prospectus.
02Get Ready
Make sure you open or already hold an investment account with one of the receiving entities.
Receiving Entities03Subscribe to the Offering
Complete the subscription application form through your receiving entity during the subscription period.
Subscription period:11–14 October 2026 (preliminary)
04Allocation & Refund of Excess
The issuance size and final allocation are announced, and any excess amount (if any) is refunded.
Final allocation:19 October 2026
Expected listing:21 October 2026
Dates are preliminary.
Expected Timelinefor the Offering
The timeline is preliminary.
11 October 2026
Beginning of the
Subscription Period
The subscription period for individuals and institutions in the WSM Sukuk opens, through the receiving entities.
14 October 2026
End of the
Subscription Period
Last day of subscription for all investors. No new or amended orders will be accepted after this date.
19 October 2026
Announcing the
Final Allocation
The final issuance size is determined, and the final allocation of the Sukuk is announced, with any excess (if any) refunded to subscribers' accounts.
21 October 2026
Expected Date for Listing
the Sukuk on the Market
Trading of the WSM Sukuk on the Sukuk & Bonds Market is expected to begin once all requirements are satisfied and all related regulatory procedures are complete. The start of trading will be announced on the Saudi Exchange website (www.saudiexchange.sa).
Frequently AskedQuestions
The Sukuk Programme is a framework that allows WSM to offer several Sukuk issuances over its two-year validity period, provided that the total value of the issuances does not exceed the programme size of SAR 500 million. Each issuance has its own terms, set out in its Applicable Final Terms.
This programme utilizes a Mudaraba and Murabaha arrangement. As Rab al-Mal, the Sukukholders' agent contributes the proceeds as Mudaraba capital; as Mudarib, WSM invests that capital into its general Shariah-compliant business pool, alongside commodity Murabaha contracts.
General corporate purposes; the targeted use may include acquisitions and data centre expansion.
The tenor is 5 years, with bullet repayment of principal at maturity, and the Issuer has no early redemption option.
Distributions are paid semi-annually at a fixed profit rate of 9.5% (after Zakat). Distributions are deposited into the sukukholder's investment portfolio.
A Sukuk Servicing Reserve Account funded with the equivalent of 12 months of profit distributions — two semi-annual payments. If a shortfall arises on a distribution date, funds in the account are used to cover it. Once drawn, the account is replenished to its required balance at least five business days before the next distribution date.
Debt/equity capped at 3.0x, a negative pledge and a cross-default. Debt/equity stood at 0.22x as at 30 June 2026.
Investors subscribe through one of the receiving entities during the subscription period. Once the allocation procedures are complete, the allocated Sukuk are deposited into the sukukholder's investment portfolio, and can be traded on the Sukuk & Bonds Market once listed.