Middle East Healthcare Company announces the commencement of the offer and subscription in its Sukuk denominated in SAR
Middle East Healthcare Company announces the commencement of the offer and subscription in its Sukuk denominated in SAR
| Introduction |
Introduction
With reference to the announcement made by the Middle East Healthcare Company (the “Company”) published on the website of the Saudi Stock Exchange (Tadawul) on 04/07/1445H (corresponding to 16/01/2024G) relating to the Company’s intention to issue Sukuk denominated in SAR (the “Sukuk”) and the public offering thereof, the Company announces the commencement of the Sukuk’s offering and the retail and institutional subscription period. |
|---|---|
| Offer Type | Sukuk denominated in SAR |
| Value of the offer | The issuance amount has been determined on an initial basis at SAR 1,000,000,000 The definitive issuance amount will be determined after the completion of the offer period, based on market conditions at that time. |
| Offering start Date | 2024-02-12 Corresponding to 1445-08-02 |
| Offering end Date | 2024-02-25 Corresponding to 1445-08-15 |
| The targeted class of the issuance | The Sukuk will be offered to eligible natural and legal persons in the Kingdom of Saudi Arabia and any other relevant jurisdiction where the Sukuk may be lawfully offered |
| Name of Issuance Manager | The Company has mandated Al Rajhi Capital Company as financial advisor, lead manager and dealer in relation the offering and issuance of the Sukuk |
| Minimum Subscription | Five Sukuk with a nominal value of SAR 5,000. For further details, please refer to the base prospectus dated on 14/01/2024G (the “Base Prospectus”) prepared in relation to the Sukuk |
| Offer Price (Sukuk/Bonds) | SAR 1,000 per Sak |
| Par Value | SAR 1,000 per Sak |
| Return (Sukuk/Bonds) | 7.20% per annum fixed rate payable quarterly |
| Maturity (Sukuk/Bonds) | 5 years |
| Terms of Redemption | The Company may redeem the Sukuk, in certain events, before the expiry date as detailed in the Base Prospectus |
| Additional Information | Institutional investors wishing to purchase the Sukuk will be required to submit a duly completed form to Al Rajhi Capital being the dealer. Retail investors will be required to submit a duly completed form to Al Rajhi Bank as the receiving agent through the available channels, including through the internet. The purchase of the Sukuk by investors is subject to satisfying the terms and conditions set out in the investor application form and the Base Prospectus. For further details about the subscription in the Sukuk, please refer to the Base Prospectus. The Company stresses the importance of reviewing the following documents carefully and in full before making any investment decision in relation to the subscription in the Sukuk: (1) the Base Prospectus; and (2) the Company’s interim condensed consolidated financial statements (unaudited) as at and for the nine-month period ended 30 September 2023. The Base Prospectus has been published on the website of the Capital Market Authority (https://cma.org.sa), the website of the Saudi Stock Exchange (Tadawul) (www.saudiexchange.sa), the website of the financial adviser, sole arranger and dealer (https://www.alrajhi-capital.com). |
Book Now