Saudi German Health to Launch $400 Million Sukuk on Tadawul

Jeddah-based Middle East Healthcare Company, also known as Saudi German Health, is preparing to debut its SAR 1.5 billion ($400 million) sukuk on the Saudi Stock Exchange (Tadawul) this week.

Tadawul has officially announced that the sukuk will commence trading on Wednesday, March 13, 2024, under the symbol 5019 and ISIN Code SA16100IEDJ2.

Saudi German Health is a prominent player in the kingdom's healthcare sector, operating hospitals, laboratories, pharmacies, and other medical facilities.

In financial terms, the company has witnessed significant growth, with its profit attributable to shareholders soaring to over SAR 143.7 million during the first nine months of 2023, compared to SAR 42 million reported in the same period a year earlier.

Source: Cleofe Maceda / Zawya