Riyadh- Middle East Healthcare, a prominent entity listed on Riyadh’s Tadawul exchange, declared its intention to issue sukuk in a statement released on Tuesday. The company disclosed that the issuance amount will be determined at a later date, contingent on prevailing market conditions.

The sukuk, set to be issued in a specified denomination of SAR 1,000 as outlined in Middle East Healthcare’s prospectus, is part of the company’s strategic financial plans. The proceeds from this offering will be allocated for general corporate purposes, contributing to the firm’s continued growth and stability.

Al Rajhi Capital, a reputable financial institution, has been appointed by Middle East Healthcare to serve as the agent, financial advisor, sole arranger, and dealer for this sukuk issuance. The collaboration with Al Rajhi Capital underscores the company’s commitment to securing experienced and knowledgeable partners to facilitate the successful execution of this financial initiative.

Middle East Healthcare’s decision to tap into the sukuk market aligns with the broader trend in the region, showcasing the growing importance of Islamic finance instruments. The issuance is expected to garner interest from investors keen on participating in ethical and Sharia-compliant financial instruments.

As Middle East Healthcare moves forward with its sukuk issuance, the company remains attuned to market dynamics, with the final issuance amount subject to assessment based on evolving market conditions. The successful collaboration with Al Rajhi Capital positions Middle East Healthcare for a strategic and well-executed entry into the sukuk market.