Saudi German Health begins Sukuk repurchase

Saudi German Health starts buying back its outstanding Sukuk as part of a plan to strengthen its financial position

Middle East Healthcare Co. (Saudi German Health) has started executing the repurchase of its previously issued outstanding Sukuk.

The company added in a statement on Tadawul that details of the repurchases will be disclosed in its quarterly financial statements, including the total number of Sukuk bought and their overall value, or upon any material developments requiring disclosure.

The company affirmed its commitment to the regulations and instructions governing the capital market.

According to data available on Argaam, Saudi German Health’s board of directors decided last March to begin gradually or partially repurchasing the Sukuk previously issued by the company, in line with approved financial policies, aiming to enhance its financial position.