Saudi German Health board OKs sukuk repurchase

One of Saudi German Health's hospitals

Middle East Healthcare Co.’s (Saudi German Health) board, in its meeting held on March 2, approved the gradual or partial repurchase of the sukuk previously issued by the company, in line with the approved financial policies, to strengthen the company’s financial position, according to a statement to Tadawul.

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The board authorized the finance department to coordinate with relevant parties as well as investors to establish a repurchase mechanism, aligning with the applicable laws and regulations.

Regular reports discussing the repurchase as well as its impact on the company’s balance sheet will be submitted to the board.

Any related material developments will be announced in due course, the statement added.