Saudi German Health shareholders approve sukuk issuance

One of the clinics of Saudi German Health 

Shareholders of Middle East Healthcare Co. (Saudi German Health) approved issuing sukuk through one or multiple programs created for the issuance purpose or on a standalone basis through public or private offerings during the extraordinary general meeting (EGM) held on Aug. 17. 

The SAR- or any other currency-denominated sukuk will be within or outside Saudi Arabia, with the possibility of listing them on any exchange. 

Shareholders also approved authorizing the board of directors to take the relevant measures, including but not limited to approving the sukuk structure, terms and conditions, determining issuance value, size, price, yields, utilization of proceeds and repayment. 

The approval also included obtaining all the regulatory approvals locally or overseas, the statement added.