DUBAI - Saudi Arabia’s Capital Market Authority has granted approval to National Shipping Company of Saudi Arabia (Bahri) to issue a sukuk, the market regulator said in a bourse filing on Monday. The company will determine the size of the offering at a later stage and the prospectus has yet to be published, the statement added. Bahri plans to complete a debut Islamic bond offering worth up to 3.9 billion riyals ($1.04 billion) this quarter, the company’s vice chief executive officer for finance Mohammad Alotaibi said last month. HSBC Saudi Arabia, JP Morgan and Samba Capital, the investment banking arm of Samba Financial Group, are arranging the transaction.